The Milford City Council approved a $10.1 million operating budget for the 2022-23 fiscal year following a budget hearing and special meeting Sept. 19.
The operating budget includes a 1% decrease from last year’s and a 6% drop in the tax levy, moving the levy from 51 cents to 48 cents per $100 of property valuation.
However, a 10% jump in property valuation will make up the difference.
The jump is based on a market adjustment conducted by the county assessor earlier this year as required by law.
All communities in the county except Staplehurst and Pleasant Dale received the adjustment on residential properties.
The city’s operating budget is set at $10,145,423, with an additional cash reserve of $2,757,433, for a total budget of $12,902,856.
The city’s property tax request sits at $621,922.65 with a valuation of $128,968,021.
Mayor Patrick Kelley said the council reduced its planned spending by about $44,000 in order to remain under the allowable growth threshold that otherwise would have required the city to participate in a countywide public tax hearing – a new state law that went into effect this year.
Kelley said improvements to light fixtures on B Street will be put off for now, saving about $25,000.
Some street patching and other minor projects also will be delayed to make up the rest of the $44,000.
Milford Maintenance Supervisor Gary TeSelle said the city will undergo a sewer and water rate study this fiscal year, which could affect revenues for those budget lines.
No one from the public spoke at the budget hearings.
