Village News

Valley Stream budget gets green light

Tax bills expected to rise about $40

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When Valley Stream’s new budget takes effect on June 1, residents can expect all of the same services they get now while seeing their tax bills tick upward.

The average homeowner should see about a $40 annual increase, according to village officials. The Board of Trustees approved the $35.7 million spending plan on April 8 by a 3-0 vote. Trustees Vincent Grasso, who is on military leave, and John Tufarelli were absent.

The budget meets tax-cap regulations. The village’s allowable tax levy increase was 1.48 percent, and the spending plan comes in at 1.43 percent, a difference of about $8,000.

The New York state budget includes a provision that would provide residents with property tax rebates if certain conditions are met, including living in a municipality with a tax-cap-compliant budget. Mayor Ed Fare said he wants Valley Stream homeowners to be eligible. “We’ve done our part,” he said.

Al Green, a resident of Fairfax Street, said overall he was pleased with the village’s spending plan. “This is one of the best, if not the best budget I’ve seen,” he said.

However, he did have questions about the village’s use of its reserve funds over the past few years. He cautioned board members against blowing their savings to fill budget gaps.

Village Treasurer Michael Fox said the reason for some high numbers in the past was because of unanticipated expenses. The village had several large property tax refunds to pay, he said, and also had higher than expected retirement costs.

For the 2014-15 budget, Fox noted that the village will be less reliant on reserves, with a plan to use about $190,000. He added that if the tax cap had been 2 percent, he likely would have been able to balance the budget without using any reserves.

Fare said that the village is far from going broke, with about $6.2 million in the bank, however he and board members don’t want to let reserves dwindle much further. Fox added that some money would be coming back to the village when it completes the stream reconstruction project and receives reimbursement from Nassau County.

As part of the budget, the village also approved $1.49 million for the Henry Waldinger Memorial Library.