Continuously serving Kosciusko County since 1854
MILFORD - With no remonstrators present, the Milford Town Council budget hearing Monday at noon was quick and simple.
The 2003 Milford budget includes an estimated $523,665 for the general fund, with $119,941 to be raised; $221,672 for the motor vehicle highway fund, with $95,950 to be raised; $50,000 for the local roads and streets fund, no tax levy to be raised; $40,000 for cumulative capital improvement fund, with $12,781 needing to be raised; $20,000 for the cumulative capital investment cigarette tax fund, no tax levy to be raised; $258,000 for the cumulative capital development fund, with a levy of $119,190 to be raised; $20,000 for cumulative sewer, with $12,781 to be raised; $80,000 for the County Economic Development Income Tax; and $1,900 for the police education fund.
The total estimated 2003 budget is $1,215,237, with $260,643 in tax levies to be raised. The town's maximum levy is $408,500, working with an estimated net assessment valuation of $38.38 million, though that number is not final.
Tax rates, not finalized, are 52 cents for general fund, 3.33 cents for cumulative sewer, 33.3 cents for CCI, 3.96 cents for CCD and 25 cents for MVH. The rates still must be approved by the Department of Local Finance, formerly known as the State Tax Board.
The Milford Town Council will give its final approval for the budget at the Sept. 9 meeting at 7 p.m. in the town hall.
Members of the Milford Town Council present at the meeting were Bob Phillips and Doug Ruch. John Lehman was not present.
