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Mineola approves $21.7M budget

The Village of Mineola was originally named Miniolagamika,

The Village of Mineola was originally named Miniolagamika, meaning "pleasant village," after an Algonquin Indian chief. This welcome sign overlooks the Mineola Long Island Rail Road station. (June 26, 2012) Credit: Amy Onorato

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.

 

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