SOUTH KINGSTOWN–The town council approved the preliminary budget for next year at Monday night’s meeting amidst tension as councilman Jim O’Neill voted against it.
The total municipal budget is $89,774,895. From the municipal programs, the general fund received $73,372,050. The water fund is $963,949. The wastewater fund is $3,201,247. The solid waste fund is $719,603. The Peace Dale office building received $90,289. The neighborhood guild fund is $834,192. The senior services program received $726,208. The school fund received $58,434,545.
After presenting the budget, town manager Stephen A. Alfred provided information relative to changes in the motor vehicle excise tax and real estate tax as an update to his proposed budget.
“At each point, the values of the motor vehicle tax and real estate rolls becomes clearer. We are seeing a downward trend in sustainable taxable property in the 2011 year,” Alfred said.
Motor vehicles will be assessed at a rate of $18.71 per thousand dollars of assessed value. For 2012, the governor’s recommended state budget requires a vehicle assessment exemption of $500 per vehicle and allows communities to increase the exemption up to $6,000 per vehicle. Further, the governor’s budget proposes a motor vehicle tax reimbursement of $712,163, while Alfred’s budget projects an income of $160,000 next year.
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