CAPE VINCENT â The village Board of Trustees formally adopted the budget for the upcoming year and will raise property taxes by about 1.75%.
The new village property tax rate will be $6.39 per $1,000 of assessed property value, meaning a $100,000 house in the village will have a property tax bill of $639.
Overall, the village budget for the 2021-22 Fiscal Year calls for $5,344,547 in spending â more than $1 million less than last yearâs budget.
A vast majority of the villageâs budget this year is dedicated to Lake Ontario Resiliency and Economic Development Initiative, or REDI, projects to improve and protect the shoreline. The largest revenue line in the village budget is from the stateâs REDI grant, for a combined total of $4,487,600, or 84% of all village income.