Southampton Town Supervisor Delivers 2020 Recommended Budget With A 6% Property Tax Rate Reduction
Southampton Town Supervisor Jay Schneiderman continues to reduce taxes while controlling expenses, making necessary infrastructure improvements and increasing the level of municipal services to the community. Those are some of the highlights of the Supervisor’s 2020 Tentative Budget delivered to the Town Clerk and Town Board on Thursday, Sept. 19, 2019--eleven days before the September 30th deadline.
The 2020 Tentative Budget reflects conservative financial practices protecting taxpayers’ dollars and assuring the Town maintains its strong financial position with credit rating agencies.
The 2020 Tentative Budget:
- Includes a nearly 6% property tax rate reduction, effectively eliminating any tax consequences from upward property assessed valuations for the average homeowner
- Maintains and/or improves the levels of municipal services
- Controls increases to what are contractually required
- Adjusts to decreases in anticipated revenues
- Commits to investments that maintain and improve infrastructure
The 2020 Tentative Budget also includes 3 new positions, one in the Community Preservation Fund (CPF) Department and two positions in the Park’s Department. The costs associated with these new positions are offset by increases in fund revenues and do not require an increase in the tax levy.
The Supervisor’s budget message addressed the importance of tax stabilization. He highlighted that the Town Board approved a two year moratorium on upward market trend valuation on assessments and a recent request to the State to approve a 2 percent cap on taxable assessment growth based on market trend valuation.
“We want to protect property owners who cannot afford a sizable jump in assessments that could translate to higher tax bills,” said Southampton Town Supervisor Jay Schneiderman. “By capping the taxable increase in assessment at 2 percent we can help property owners stay in their homes.”
Supervisor Schneiderman thanked Town Comptroller Len Marchese and his department for their assistance in preparing the 2020 Tentative Budget.
“The Town of Southampton, under the leadership of Supervisor Schneiderman and the members of the Town Board, continues to consider taxpayers first and is committed to strong fiscal management,” said Comptroller Len Marchese.
- The Tentative Budget will be converted by the preliminary budget on Oct. 3rd, as required by state law.
- Two public hearings will be held on the Preliminary Budget, on Tuesday October 22nd at 6pm and November 12th at 1pm.
- The final adoption of the budget is scheduled for Wednesday, November 20th at 11am.
This is the fourth budget for Southampton Town prepared by Supervisor Schneiderman. All four budgets have included property tax rate reductions. For Schneiderman, who also served as East Hampton Town Supervisor and Suffolk County Legislator, this represents the 20th consecutive budget that does not increase the property tax rate for his constituents.