NORWICH – The City of Norwich Common Council will come together for a special meeting tonight at 6 at the city court for two public hearings; one for the proposed 2013 city budget and the other regarding a proposed local law to override the 2 percent tax cap for the 2013 fiscal year.
The 2013 budget calls for a tax rate increase of 9.8 percent, transcending the 2 percent property tax cap enacted by New York State. If passed, residents can expect to pay $20.76 per $1,000 in property taxes, an increase of $1.86 from the 2012 budget. According to the City of Norwich Department of Finance, the average taxable assessed value for a city property owner amounts to $55,000, which means residents will pay $102.30 on average over the course of the year (equivalent to $8.53 per month).
The city faced a similar financial situation last year, when the council voted to override the 2 percent tax levy for the 2012 budget.