Endicott, NY (WBNG Binghamton) The fallout from a major reassessment for the village of Endicott is now coming into focus, as local leaders weigh a new budget.
In August, the Huron Campus was reassessed to less than 27.5 percent of its original value. That decision meant a loss of $1.8 million in tax revenue for the village.
With the budget season now underway, village leaders are trying to close that gap, and that could mean overriding the state tax cap.
Leaders are looking at where they can save with their workforce, with several retirements expected soon.
Deputy Mayor Dave Baker said they are still bracing for increases in pension and insurance costs.
Their goal is to hold the line on taxes, but Baker said they want to be ready to override the property tax cap if needed.
"For the Villages, and the municipal governments, trying to cover expenses, we have a constraint. A hard constraint of two percent and everyone is expecting school districts and governments to be under that two percent," Baker said.
There will be a public hearing on whether the board will override the property tax cap will be held Feb. 26 at the Endicott Municipal Office.