There is much speculation about what the tax impact of the proposed Affordable Housing Development at 46 South Street will be. As announced in the Village Board meeting on 1/8/18, Village Planner, Matt Johnston, asked the village board for funds to get an independent assessment the tax impact of the project, including village and school taxes and service costs.
“The DPW commissioner states that there will be savings when additional billing units are added. The revenue from those billing additions will be attributed to the water/sewer budgets and will decrease the overall billing rate of water and/or sewer.” -Debbie Watkins: Trumansburg Village Trustee, Water and Sewer Commissioner July 17, 2017 Post on Nextdoor.com
Property taxes do not fully cover cost of village services for existing homes.
Based on the revenue lines in the proposed 2017-18 budget property taxes make up ~60% of village revenue while ~30% comes from sales taxes and ~10% comes from departmental income (after removing revenue from other governments).
|Real Property Taxes||$901,618.00||61.05%|
|Sales / Franchise Taxes||$400,000.00||27.09%|