Tentative Lakewood Budget Calls For 1.33 Percent Tax Increase
LAKEWOOD – The village of Lakewood’s tentative 2013-14 budget includes a 1.33 percent tax levy increase.
Mayor David Wordelmann announced in a news release Wednesday he had filed tentative budgets with the village clerk.
The proposal recommends a tax rate of $7.534653, an increase of 23 cents per $1,000 of assessed valuation, and a $1,705,355 tax levy, an increase of $22,397 over the 2012-13 budget.
The tax levy increase comes in under the state-imposed 2 percent tax cap.
Total spending is $3,243,205, an increase of $100,989. According to the release, the increase is due mainly to rising pension and workmen’s compensation costs, health insurance premiums, and police and fire department expenses.
The tentative budget doesn’t include increases in elected officials’ salaries, the release states. Full-time employees will receive their contracted 3 percent increase in pay, and part-time workers are up for review.
The Lakewood board will review the budget. A public hearing will be held on the budget during the regularly scheduled village board meeting Monday, April 8.