Peru’s water tax rates to increase by 82 percent – General and highway rates to increase only slightly
By John T. Ryan
Counselors approved the Town of Peru 2013 budget at a November 15, 2012 Special Town Board meeting. Water users will be subject to an 82% tax increase with rates increasing from $1.71 to $3.10 per thousand dollars of assessed value. The cost of the town’s ongoing $3.2 million water system improvement project is the major reason for the tax increase. Annual interest on the $3.65 million bond totals $176,868. Combined with previous borrowing, the water system’s annual interest payments total $238,924.
A water user with a home assessed at $100,000 will pay water taxes of $310.00 plus metered usage charges. Water users with a $200,000 house will pay taxes of $620.00 plus metered usage charges. A homeowner with a $300,000 home will pay $930.00 plus metered usage charges. Assuming an average home has metered charges of $400 annually, water costs will total approximately $710.00 annually for a $100,000 home, $1020.00 for a $200,000 home and $1,330.00 for a $300,000 home.
The general budget tax rate will increase from $1.91 per M to $1.93 per M. The highway department tax rate will increase from $2.35 to $2.37.
Counselors Jim Douglass, Susan Polhemus, Kregg Bruno and Supervisor Peter Glushko voted in favor of the budget. Counselor Brandy McDonald was excused and was not present.
Posted: November 17th, 2012 under General News.