The proposed 2013 budget for the Town of Franklin is $1.83 million. Subtracting the $0.29 million in expected revenues and a balance from last year of $0.26 million, the amount to be raised through property taxes is to be $1.27 million. Compared to last year, this will result in an increase in property taxes of $0.027 million or approximately $27,000 thousand.
This is an increase of 2.6%, but the Town is not required to waive the 2% tax cap because one third of this raise (0.9%) is for our contribution to the state mandated New York State retirement system, which is not counted towards that cap.
Most of this increase, $26,570, is for Highway Department medical insurance ($13,724), state retirement ($9,586), and social security ($260).
Raises are proposed for some town officials: Highway Supervisor ($1,000), Deputy Fiscal Officer ($515), Justice ($500), Assessor ($500), Clerk ($500), and Health Officer ($50), which totals $3,065. Some of these increases are offset by a small increase in expected revenues.
This $1.83 million is distributed among highway 69.2%, general expenses 18.9%, fire district 10.5%, and Treadwell water and light 1.4%.
The final 2013 budget may differ slightly from this. It was voted for immediately after the annual public hearing on Tuesday November 13th, which was after this issue went to press.