Piermont lawmakers adopted the village's 2012-13 budget Tuesday night, a fiscal plan that raises the homestead tax rate by 13-percent over last fiscal year, or $6.73 per $1,000.
The non-homestead tax rate, which applies to commercial buildings, will decrease by about one-third of a percent.
The budget's expenses come in around $5.2 million, . The driving factors for the swell are New York State retirement contributions, which increased by over $100,000, and the budget, which is up about $50,000 due to a new part-time officer and equipment upgrades.
Piermont aims to raise $4.3 million through property taxes, or 3.4-percent more than last year—still, due to certain stipulations, the uptick remains under governor Andrew Cuomo's two-percent tax cap.
"We are not going to override the tax cap—we do not need to pass a local law," said Christopher Sanders, Piermont's mayor, Tuesday evening.
The state does not factor certain expenses, like pensions, when calculating the tax cap, allowing some municipalities to exceed two-percent but remain beneath the ceiling.
With the exclusions noted, Sanders said the village's property tax levy increase comes to about one-percent.
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For a breakdown of Piermont tax hikes over the years, click .
