Southampton Town Board Approves $91.1 Million Budget For 2016

The Southampton Town Board voted unanimously to approve the $91.1 million budget for 2016 at a meeting on Friday.

Southampton Town Supervisor Anna Throne-Holst proposed her 2016 Tentative Budget in September with a 0 percent increase in the tax rate for the sixth year in a row while maintaining services, controlling costs, and staying within the NY State imposed tax cap.

The proposed budget meant an overall property tax levy of $59.3 million, an increase from the $57.5 million levy in 2015.

The proposed increase in the levy reflects an increase in assessed value Town-wide of approximately $2 billion or 3.5%, for a total assessed valuation of $57.7 billion, generating an addition $1.8 million in tax revenue without changing the tax rate.

The town board added an extra $100,000 to the original budget on Friday for the Southampton Town Highway Department to be used for road improvements, according to a report in 27east.

The approved budget would increase spending by $2.5 million or 2.82 percent and will include a $59.3 million tax levy, an increase of $1.8 million, or 3.1 percent, according to the report.

However, the town tax rate, which is $1.42 per $1,000 of assessed property value, will remain at a 0 percent increase meaning that owners of an average home costing $500,000 will pay $710 in town taxes next year, the same as they have paid this past year, 27east reports.