Long Island Now

The latest community buzz and updates. | Sign up for community newsletters.

Tax rates go up in Village of Lake Success

Village of Lake Success trustees voted on Monday night to approve the village’s 2013-14 budget.

The $16,697,727 budget represents an increase of 0.65 percent over the previous year’s budget of $16,590,502.

The tax levy increased by 2.96 percent, from $9,737,099 last year to $10,025,238 this year, an increase that Village Treasurer Akua Bediako said was “right at” the state tax cap. Village trustees had passed a measure earlier in the meeting allowing them to exceed the state-mandated cap, if necessary.


MORE: newsday.com/towns | Free community newsletters
SOCIAL: @NewsdayTowns | Google+


The tax rate for homesteads, or residences, will increase by 3.14 percent, to 5.20037 per $1,000 of taxable assessed value compared to the previous year’s rate of 5.04220. The tax rate for non-residences will increase by 5.02 percent, to 14.226824 per $1,000 of taxable assessed value compared to the previous year’s rate of 13.5463.

The village’s assessed valuation decreased by 0.26 percent — from $1,295,801,306 in 2012-13 to $1,292,425,578 in 2013-14.

The budget year begins in June.
 

Tags: Lake Success , taxes , budget

advertisement | advertise on newsday

Vote

Are Long Island hospitals up to your standards?

Yes No

Your town

Get the latest news and information about your community, all in one place.

What's this? Send us your feedback

Sign up for community newsletters

Choose a community

advertisement | advertise on newsday