As the nation's economy continues to falter, Broome County residents are facing another tax hike. And the county executive said it has a lot to do with the cost of something everyone is complaining about. Fllowing Binghamton's recently-proposed 17 percent property tax increase, there is another tax hike facing residents of Broome County. In her 2009 budget address Thursday, County Executive Barbara Fiala called for a property tax hike of 2.77 percent. "This means an additional 36 dollars a year to the average homeowner, and represents approximately 350 million dollars in approprations for Broome County next fiscal year," said Fiala. Fiala said one of the main reasons for the proposed tax increase is the sharp increase in the county's fuel costs, --adding a million dollars a year to the budget for running B.C. 's public tansporation and construction equipment. "In order to reduce the impact of transit deficiet on property taxes, and in response to increased ridership, is a proposal to increase transit fare," said Fiala. Fiala wants to add a quarter to the current dollar fare for fixed routes. But despite the increased costs, fiala said the county has still been able to put aside 1.25 million for a rainy day fund. "This type of fund will save our taxpayers the type of burdern of rollar coaster property tax increase." And, she notes the county is retaining its "A" bond rating by Standard and Poor's. "This rating positively affects th ...
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