From the Lafayette Journal & Courier:
The proposed 2013 West Lafayette budget is basically flat when it comes to revenue collected and tax rate, but the spending would increase about 9.2 percent, if adopted by the City Council and approved by state auditors.
“The budget itself is up … approximately 9.2 percent,” Mayor John Dennis said. “The focus, as always, is trying to do the best we can in the most frugal way possible.”
He noted that the past four budgets have been lower each year, and the unspent money at the end of the year becomes reversions — or the city’s savings account.
Dennis explained the proposed 2013 budget would dip into part of that savings to complete two major projects — a reconstruction of the intersection of Salisbury Street and Navjo Drive and the reconstruction of Happy Hollow Road.
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In addition to the two major road project, the proposed 2013 budget funds a 2 percent pay increase for city employees.
Spending also has increased because of the new information technology department, which saves the city in contract fees for the service, but requires an annual appropriation for the department.
Lastly, Dennis noted price increases in gasoline, water and utilities.
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The city will advertise a budget that proposes to spend $7.8 million in the general fund, but figuring in estimates after the property tax circuit breaker kicks in, the city is expecting to levy $6.6 million, Clerk-treasurer Judy Rhodes said last week.
The estimated tax rate for the city is 87.09 cents per every $100 of assessed value. The 2012 tax rate is 84.02 cents for every $100 of assessed value.
But assessed value is another problem. Those figures are in yet. So if West Lafayette’s assessed values go up, the property tax rate for the city will be lower, Rhodes said. If, however, the assessed values for the city drops, the city’s property tax rate will go up.
A public hearing will be scheduled for Sept. 4, and the budget is slated for its final reading Oct. 3.
http://www.jconline.com/apps/pbcs.dll/article?AID=2012308060034
