The New Hyde Park village board presented a plan for a $6.4 million budget, $235,566.81 more than last year’s, for the upcoming fiscal year, during Tuesday’s meeting.
The tentative budget proposes a tax levy of about $4.3 million – a $96,743 increase from last year.
For a homeowner in an average assessed household in the village, with an assessed valuation of $5,400, the increase would call for an additional $19.44 in village taxes this year.
Village calculations project an allowable tax levy increase of $94,743.83, or 2.1 percent, to stay within the 2 percent tax cap limit. The tentative budget proposes going up to that 2.21 percent.
A large budget driver this year is medical, dental and vision expenses, which increased by more than $116,000.
State retirement expenses decreased $1,244 from last year, and workers compensation insurance expenses decreased by $18,490.
The budget projects total revenue anticipated to be $6.4 million, with about $4.4 million coming from total property tax items.
One projected revenue increase is $5,000 proposed for the William Gill Theatre, which Mayor Lawrence Montreuil said the village wants to look towards monetizing more in the future.
Montreuil also said the village tries to be conservative on anticipated revenue and has ended the last few years in a surplus.
