The town's budget will be a little bigger in 2013 than this year, but it won't be because of a tax increase.
The council had its first reading of the 2013 budget Tuesday calling for a general fund of $902,000 compared to this year's general fund of $830,000. The big difference is the agreement with Crown Castle for a 40-year lease of the cellphone tower and the 40-year lease on the use of the town's water tower for cellphone antennas.
The total contract is for $591,997, plus the town will receive 90 percent of the revenue from renting any new antennas installed on the water tower. The agreement allows the town to maintain control of all the emergency antennas already on the water tower for police, fire and other emergency services in the town and the county.
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The total budget amount is $2.14 million based on what Waywood estimated as a net assessed value of $85 million, which she said is about $8 million lower than the current assessed value. Taxing entities deliberately underestimate the assessed value to be sure they collect all the taxes they have coming. She said the Porter County assessor already told her he expects it will be higher.
It is expected the budget will be approved at the October meeting, but the final amount will be set by the state Department of Local Government Finance. Waywood said she hopes that's done before the end of the year.
