Holland proposes $300,000 budget

From local sources

HOLLAND — The Town of Holland has proposed a 2014 budget of $301,125.

The proposed budget, which was the subject of a public hearing before the town council Aug. 7, includes a maximum of $141,500 to be raised locally. That is a 3.18 percent increase over the current year’s maximum levy of $137,142.

Clerk-Treasurer Ray Schuetter said the 2014 proposed, high-side tax rate of $1.22 per $100 assessed valuation is based on a working assessed valuation of $11,611,000. The 2013 tax rate was finalized at $1 per $100 of assessed valuation.

The town’s estimated assessed valuation as used in the calculations decreased by 15 percent over 2013’s assessed valuation of $13,659,424, according to Schuetter. The assessed valuation figure provided by the Indiana Department of Local Government Finance for calculations is usually 90 percent of the current valuation, Schuetter added.

The budget will be up for adoption by the council at its Oct. 9 meeting and then will be forwarded to the Indiana Department of Local Government Finance for finalization.

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