CHENANGO COUNTY – Chenango County policy makers are set to review preliminary figures of the county’s proposed 2015 annual budget, which calls for a relatively modest 1.78 percent increase for local taxpayers.
Despite a more stringent state mandated tax cap this year of approximately 1.9 percent for Chenango County, the $86.9 million budget falls under the tax cap threshold for the fourth consecutive year. According to Chenango County Treasurer Bill Craine, the county saw a total $81,418 (.09 percent) increase in spending over last year’s budget but still falls marginally short of the state mandated tax cap by about $15,000.
This means unless the numbers change before going to vote, the average taxpayer can expect to pay 13 cents per $1,000 of assessed value more than they did in 2014, said Crain (which equals approximately $12 more for the year for the average residence). Individual town rates will vary depending on equalization rates and assessed value totals.