LAKE PLACID - Town of North Elba residents living within the village of Saranac Lake will see their taxes go down slightly in 2011, while those living within the boundaries of the village of Lake Placid will see a small increase.
North Elba Supervisor Roby Politi said the proposed town budget for 2011 keeps spending flat.
Officials project approximately $6.9 million in appropriations next year, about the same as the current year's budget, while budget revenues not including the tax levy are projected at about $2.7 million.
That represents an approximate 13 percent increase over the current year. Politi said appropriations in 2011 include revenue borrowing not included in the current year's budget.
The amount raised by taxes in next year's budget is set at about $3.8 million. That's a few thousand dollars less than this year's tax levy.
Property taxes account for 55 percent of budgeted appropriations. Six percent of appropriations will be financed via fund balance, while 39 percent comes from revenue sources relating to user fees, contracted services, and local, state and federal funding.
The projected tax rate for residents inside the village of Saranac Lake will decrease by 3.7 percent next year. Residents in the village of Lake Placid will see a tax rate increase of about 2.4 percent, and those living outside village limits will see increases ranging from 0.5 to 2.7 percent.
Politi noted while the overall tax levy has decreased, the levy for the Park District and Fire District 2 has increased slightly.
"The increase in the Park District levy is a result of the state's discontinuance of state aid as well as increased costs related to employee health insurance and retirement," he wrote in his budget summary.
The increase for Fire District 2 relates to funding for the newly incorporated Saranac Lake Volunteer Rescue Squad.