Village of Kings Point trustees on Wednesday approved a $16.88 million budget for 2016-17, which calls for a 1.1 percent increase in spending over the current budget.
While the budget calls for an increase in money collected in property taxes by about $71,000 to $15 million, Village Clerk-Treasurer Gomie Persaud said taxes would decrease for residents because of an increase in the assessed valuation of homes.
In the current budget, the village collects $40.73 per $100 of home assessed valuation, but in the 2016-17 budget, the village will collect $40.29 per $100 of assessed valuation.
Persaud said the village’s taxable assessed valuation increased due to the completion of homes that were under construction when developing the current budget.
The village’s largest expenditure in the budget is about $7.23 million for public safety, which includes police department, fire department and safety inspection costs.
The village’s police force accounts for 49 percent — $6.3 million — of the proposed budget.
The village is also proposing spending $1.35 million, or about 10 percent, of its budget on a contract for fire and ambulance services with the Great Neck Alert Fire Company.
