By Matt Youngfrau
MONTICELLO June 29, 2001 On Monday, June 25, the Village of Monticello Board passed the village budget for the year 2001-2002.
Residents will see a tax increase of 2.8 percent, which translates to 5.4 cents per $1,000 of assessed value.
There are several reasons for the tax increase, said board members. Assessments are lower by $250,000, a retirement contribution cost went from $4,900 to $226,000, health insurance went up 18 percent, fuel and utilities prices have gone up, and the village is committed to keeping the MAC Center open and putting money aside for economic development.
Also raised are the water rates for the village, by 25 percent. That comes out to $6 a quarter. There has been no water increase in 10 years, said officials.
For the first time, $10,000 has been allocated for economic development.
The total budget for 2001-2002 is $5,628,966, up from the 2000-2001 budget of $5,481,005. The budget goes into effect August 1.