Woodstock Town Council approves budget
WOODSTOCK – Woodstock residents will see an increase in water rates as well as a 1-cent increase in the real estate property tax rate following Town Council’s unanimous adoption of the $13.58 million town budget for 2016-17 on Tuesday night.
The real estate property tax rate of 16 cents per $100 of assessed value represents a 1-cent increase as a revenue-neutral adjustment to accommodate the average decrease in assessed value as a result of the county-wide general reassessment. The personal property tax rate is 90 cents per $100 of assessed value.
The budget includes general fund spending of $6.03 million. The general fund covers government operations, financial administration, public safety and other functions.
Public safety funds – $1.78 million – represent about 30 percent of the general fund budget. Public works funds follow closely behind at 27 percent of the budget at $1.63 million. The town also budgeted $7.54 million for public utilities funds.
The new budget is an increase of $3.75 million over last year’s approved budget.
Two high-price-tag capital improvement projects will be completed with these funds. The water treatment plant upgrade projects represent an estimated $3.126 million of the increased budget, and the downtown parking lot project will cost an estimated $500,000 to complete.
The remaining $124,000 will go toward a larger final debt service payment and the growth of costs associated with doing business.
Other projects to be completed include police car replacement, dog park construction, sidewalk improvements, water main upgrades, Public Works fleet replacement, a West Reservoir Water Treatment Plant study, software payments and the installation of two solar-powered street lights.
Residents will pay slightly higher water rates for the 2016-17 year.
In-town residents with a meter measuring less than an inch will pay $24.17 for the first 2,500 gallons used. Meters over an inch will pay $26.90 for the same amount used.
For the next 47,500 gallons used, residents with meters less than an inch will pay $8.46 per 1,000 gallons. Those with meters over an inch will pay $9.39 per 1,000 gallons.
For the next 50,000 gallons used, residents with meters less than an inch will pay $8.20 per 1,000 gallons used. Those with meters over an inch will pay $8.98 per 1,000 gallons used.
Those who use over 100,000 gallons will pay $7.81 per 1,000 gallons used with meters less than an inch. Those with meters over an inch will pay $8.52 per 1,000 gallons used.
“I want to thank our finance director, John O’Neill, Town Manager Reid Wodicka and all the staff that had input on our budget process. I thought it was an excellent and highly professional process,” said Mayor Jeremy McCleary. “It makes me very proud to be a part of this organization… It’s a very good budget that I’m proud of.”
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