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Government / News / Southampton Press / 1485364

Sagaponack Village Officials Propose $815k Budget

author on Mar 19, 2014

The Village of Sagaponack released its proposed tentative budget for 2014-15 fiscal year this week, calling for a small hike in spending but a flat tax rate.

Mayor Don Louchheim and the Village Board have proposed a total budget of $815,808, an approximately 3-percent spending increase over the current fiscal year.

The village will levy $534,654 in taxes, a 4-percent increase, but will keep taxes flat, at about 6.5 cents per $1,000 of assessed property value, thanks to a hike in anticipated revenues and a jump in the assessed value of village real estate. The village’s assessment, perennially one of highest per square mile in the nation, climbed slightly above $4.3 billion this year.

The village will hold a public hearing on the proposed budget at 3 p.m. on March 24, at Sagaponack Village Hall.

MICHAEL WRIGHT

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