The Village of Mineola last week approved a budget totaling $21,718,088.
The budget raises the tax levy 1.15 percent, shy of the 2 percent state cap on tax increases.
The overall tax rate rose 0.74 percent.
The additional tax levy will raise $13,282,158.
“This budget is solid,” said Mayor Scott Strauss, following a public hearing. Speaking in general about the village’s finances, he said Mineola’s debt service obligations have been reduced from a high of $30 million in 2003 to $16.5 million this year.
He added that additional restructuring allowed the village to save about $1.3 million over the next 12 years. “This past year, the village was able to refinance a significant portion of its debt, in order to take advantage of favorable interest rates,” Strauss said.
Strauss said such savings will enable the village to tackle “infrastructure challenges in a more aggressive manner,” such as road pavement projects, curb reconstructions, tree replacement and an overhaul of parks, recreation spaces and municipal buildings.