Town of New Castle 2016 Budget Presentation

2016 Tax Cap Information  The tax cap refers to the amount the Town is permitted to raise the tax levy. The Town can exceed the cap, but needs Town Board approval to do so. The tax cap pertains to the aggregate tax levy (total amount of taxes collected), not the tax rate (amount per $1,000 of assessed value.  The 2016 budget is the 5 th year of the tax cap, the Town of New Castle has never needed to override the cap.  The tax cap is the lesser of 2% or the rate of inflation.  The tax cap number for the 2016 budget is.73%. (1.56% in 2015)  Also used in the calculation is the “tax rate growth factor”. This varies by municipality, and changes yearly based on projected tax roll changes.  The tax rate growth factor for the 2016 budget is %. ( in 2015)

Calculating the Tax Cap for the 2016 Budget Fund2015 Appropriation 2015 Levy 2016 Proposed Levy% Change A$19,638, $11,632,256 $11,608, % D$4,515, $3,667,813 $3,785, % SW$8,244, $991, % R$2,733, $2,449,986 $2,450, % SM$49, $49,440 $50, % $290, $290,297 $298, % T$98, $89, % L$125, $100, % F$630, $630,617 $600, % M$0.00 $0 $25, % S1$46, $46, % S2$15, $15, % S3$20, $20, % S4$20, $20, % S5$54, $54, % S6$55, $0 0.00% S7$25, $19, % SW2$24, $12,765 $12, % SW3$0.00 $0 0.00% SW4$34, $14, % C4$10, $10,644 $10, % SD$68, $56, % CR1$35, $6, % CR2$34, $4, % $36,772, $20,183,792 $20,283, % Tax Base % $20,321,042 Tax $20,469, % Tax Levy Limit 2016 $20,469,385 Proposed Total Levy 2016 $20,283,674 Amount Remaining Under the Tax Cap $185,711

2016 Tax Freeze/Tax Rebates  Enacted in 2014 to complement the tax cap initiative.  The rebates were based on the 2015 and 2016 budgets.  The intent of the rebate is to reimburse homeowners for increases in their taxes, residents will receive the greater of:  The actual increase in the homeowners tax bill or  The previous year’s tax bill multiplied by an inflation factor.  In order to for residents to receive the rebates, the following conditions had to be met:  Resident must be STAR eligible.  For the 2015 budget, the town was required to adopt a budget that was tax cap compliant.  The town adopted a budget with a.17% levy increase, which qualifies for the 2015 tax rebate.  For the 2016 budget, the town was required to adopt a budget that was tax cap compliant, and submit an efficiency plan showing savings of 1% per year for 2017, 2018,  The preliminary budget provides for a.49% levy increase.  The efficiency plan approved by the state provides for savings of over $1MM per year over the targeted 1%.  Based on the preliminary budget, the town qualifies for the 2016 tax rebate.

2016 Tax Rate Information Change Total Assessed Value:$1,069,389,349.00$1,067,610, % Average Assessed Value (Residential):$171,411.00$171, % Average Market Value:$829,274.31$888, % Tax Rate (General & Highway) % Tax Cap % Tax Rate Growth Factor % Total Tax Levy$20,183,992.00$20,283, %

2016 Total Tax Levy All Funds – Including Special Districts

2016 Budget Summary APPROPRIATED FUND BALANCE TO BE USED APPROPRIATED AMOUNT FOR OPERATING FOR CAPITAL FUND BALANCE TO BE RAISED APPROPRIATION REVENUE EXPENSE FROM DEBT BY TAX AGeneral Fund20,012,282 8,328, ,000 11,608,862 DHighway Fund4,660, , ,000 3,785,940 SWConsolidated Water District8,336,692 6,444, , ,739 RRefuse District2,732, , ,450,558 SMEnhanced Ambulance Districts 0 Ossining298, Chappaqua50, TNew Castle Parking District99, , ,642 LConsolidated Lighting District120, , ,000 FNorthern Fire Protection District600, S1Sewer District No. 1 Maintenance46, S2Sewer District No. 2 Maintenance15, S3Sewer District No. 2 Ext Maintenance20, S4Sewer District No. 3 Maintenance20, S5King Greeley Sewer District54, S6Pines Bridge Sewer District55, S7Brevoort Road Sewer District25, , ,249 SW2Two Castles Water District25,066 12, ,766 SW3Birch Drive Water District SW4High Ridge Water District32,720 17, ,920 0 C4Brevoort Road Drainage District10, SDLawrence Farms Drainage District66, , ,792 CR1Commercial Refuse District #135,166 29, ,166 CR2Commercial Refuse District #234,560 30, ,200 MKing Street Sidewalk District25, ,379,977 16,035, , ,000 20,283,674

2016 All Funds – Appropriation Breakdown $37,379,977

2016 Budget Highlights  Created New Positions:  Hamlet Caretaker (Parks Department) $44,547  Intermediate Account Clerk (Comptroller’s Office) $51,497  Building Inspector $93,649  Maintained Funds for the Town Board and Advisory Boards  Beautification Advisory Board (BAB) $25,000  Town Boards & Commissions $5,000  Arts & Culture Committee $5,000  Town Board Special Projects $25,000  Increased Road Paving from $600,000 to $722,786  Included Funding For Operating and Maintenance Costs for Wallace Auditorium $65,000

2015 Revenue Breakdown General, Highway, Water & Refuse Funds $37,379,977

2016 Key Revenue Sources  General Fund  County Sales Tax - $2,450,000  State Aid (Mortgage Tax) - $950,000  Commuter Parking Fees - $805,000  Building Permits - $800,000  Concession Income (Rent/Franchise Fees) - $461,000  Summer Camp - $364,665  Highway Fund  State Aid (CHIPS) - $222,000  Water Fund  General Water Sales - $3,506,565  Water Sales Pleasantville -$1,244,781  Refuse Fund  Compost & Mulch Sales - $70,000  Yard Waste - $43,490

2016 Expenditure Breakdown General, Highway, Water & Refuse Funds $37,379,977

2016 Key Expenditures  Factors Affecting Multiple Funds  Employee Benefits  Health Insurance - $4,023,765,74  NYS Retirement - $2,262,902  Workers Compensation - $542,570  Debt Payments (Capital Costs) – $2,579,281  Legal Expenses - $479,976  Telephone/Data Services - $117,000

2016 Key Expenditures (cont)  Highway Fund  Road Paving/Permanent Improvements - $722,786  Salt - $200,000  Salaries (Snow Removal) - $175,000  Road Maintenance Materials - $100,000  Water Fund  Cost of Water (NC/P’Ville) - $2,067,644/$559,417  Water Plant Operations - $894,761  Electricity WTP (NC/P’Ville) - $315,790/$112,691  Refuse Fund  Refuse Collection - $960,000  Transfer Site Charges - $465,000

2016 Town/Special District Tax Bill Average Assessed Value $171,803 Town of New Castle – General & Highway Special Districts – Refuse, Water, Fire, Enhanced Ambulance

2016 Cost of Services General/Highway Funds Average Tax Bill - $2,477.38

2016 Total Tax Bill Westchester County – Estimated Town of NC/Spec Districts – Proposed CCSD/Library – Actual