WHEATFIELD – The Town Board unanimously passed a 2014 budget Wednesday that will bring a property tax cut of $32.04 to the owner of a home assessed at the town average of $125,000. Such a homeowner’s 2014 bill will be $489.30, down 6.15 percent.
The budget of nearly $12.45 million does away with the town’s highway tax, accounting for most of the tax reduction, although the fire protection tax and the garbage fee also are dropping slightly.
The total amount to be collected in property taxes is decreasing by 4.83 percent, or $176,432, while spending is rising by almost $400,000. The town is counting on increased sales tax revenues and the growth of its tax base to balance the budget.
Primarily as a result of the gradual reduction to zero of the highway tax, the tax levy has fallen 18.92 percent in the past four years, including the newly adopted budget.