Asharoken Village officials approved a budget for the next fiscal year that doesn’t pierce the state’s tax cap and will cost homeowners an additional $120 a year in taxes.
The village board of trustees on Tuesday OK’d the $2,026,775 budget, which is about a 1.8 percent increase from the current year.
The budget represents a 3 percent tax levy increase and 3.66 percent tax rate hike. The village’s state tax levy cap is 3.1 percent, said village clerk Nancy Rittenhouse.
Mayor Gregory Letica said during the budget presentation in March that the budget increase came primarily “from things that we have no control over.” Letica said police and public employee pension contributions have risen $22,375, health insurance costs increased by $7,000, and workers’ compensation insurance by $4,000.
Asharoken’s fiscal year runs from June 1 to May 31.