CLAYTON The village plans to hike property taxes next year to begin building its fund reserves back up.
Following a budget hearing today, the Board of Trustees will consider adopting a proposed $2 million spending plan, which carries a 9.1 percent tax levy increase, for the 2013-14 fiscal year.
Under the tentative budget, the villages general spending is set to decrease by 3.7 percent to $2,048,723 from $2,128,422 this fiscal year.
However, the tax levy, or the amount to be raised through property taxes, will increase under the proposal to $1,130,324 from $1,035,585 because the board decided not to touch its rainy day fund in the following fiscal year.
In 2012, the village took out $291,196 from its unappropriated fund balance to help offset the levy.
Because of the levy hike, Claytons tax rate is projected to go up by 37 cents or 5.9 percent to $6.56 per $1,000 of assessed value, despite a slight increase in the villages tax base.
The tax base, or the total assessed value of all taxable property in the village, increased by about $4.5 million to an estimated $172,066,832 from $167,572,096.
Claytons total spending including water and sewer district budgets, which are funded entirely through user fees will be $3,708,435, down 5.6 percent from $3,929,232.
Salaries for the mayor and village trustees will remain the same at $5,000 and $2,750, respectively.
The village will hold a budget hearing at 5:30 p.m. today at the municipal building on Mary Street to gather public feedback before adopting its 2013-14 spending plan.