Sweden presents preliminary budget, tax rate stable

Sweden presents preliminary budget, tax rate stable

The Sweden Town Board presented its 2008 Preliminary Budget at a public hearing on October 25. The proposed budget leaves the town tax rate at its current level - $4.43 per $1,000 of assessed valuation, two percent below the 2006 town tax rate.

On the revenue side, the budget predicts a $20,000 decrease in the amount of fines generated by the justice court. The share of the county mortgage tax is expected to drop by $10,000. Recycling center revenues, fees for cemetery services and senior nutrition program contributions are also expected to decline in the 2008 budget.

Other revenues continue to grow as recreation fees collected are expected to increase by $16,000; cable franchise fees will increase by $4,000 as well as shares of sales tax remain strong.

Spending increases include $10,600 to purchase upgraded software for the finance director, $1,900 to purchase new computers for the Senior Center receptionists and increased personnel at the Senior Center. The Seymour Library Board has asked for a larger-than-normal increase in funding and the Sweden Town Board has agreed to support that request so long as services to patrons are not reduced.

The town board officials will not receive raises in the 2008 budget. Other savings will be found at the highway garage (paving project funds moved to a reserve in anticipation of completion next year); justice court personnel and liability insurance.

The remaining factor in determining the tax rate, once revenues and expenses are computed, is assessed valuation. The town's assessed valuation rose again in 2007 - most notably due to the construction of the Wal-Mart Supercenter which added $13,000,000 to the roll. However, one of the most challenging factors faced, according to Sweden Supervisor Nat O. Lester, III, is the percentage of Sweden's assessed valuation that is wholly exempt from paying property taxes.

"Sweden's total assessment is just over one billion dollars, yet 47.3 percent is wholly exempt. That means the remaining properties pay for all services. Sweden has the highest percentage of wholly exempt properties in all of Monroe County. Henrietta has the next highest percentage of wholly exempt properties - 27.1 percent. The average, excluding Sweden, is 11.2 percent. If Sweden were to have the same percentage of wholly exempt property as all the other towns in Monroe County, the town tax bill for a $125,000 home would drop from $554 to less than $30," Lester wrote in a press release.

The Sweden Town Board will likely adopt the 2008 budget at its November 13 meeting. The proposed budget is available for public inspection at the Town Hall. A budget summary is posted at www.townofsweden.org.

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