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DEVELOPMENT PLAN describes various proposals and recommenda-tions
needed to provide the residents of Marbletown with adequate municipal
facilities. These proposals entail the expenditure of sums of money.
The Plan is essentially a long-range plan and, therefore, the cost of
financing the various improvements will have to be spread over a time
period consistent with the financial status of the Town. In addition
to the costs, there are also the considerations of timing and priority
scheduling--deciding the order in which the proposals should be
accomplished.
The process by which proposals for new facilities and improvements are
placed in a priority sequence--and a financial program established for
pro-viding funds over a specific period of time--is known as "Capital
Improve-ments Programming". * This is essentially a process of
balancing monies available, or reasonably expected to become available,
against the volume of needed public facilities and improvements, and
assigning a priority so that the most needed items will be provided for
in the early part of the pro-gram period. The period usually chosen is
six years--the current fiscal year plus five consecutive years. Each
year the program is reviewed and a new year added to replace the
previous year. At each review the situation of the Town will be
re-examined, its current ability to pay determined, the proposed
projects re-evaluated in terms of changing conditions, and new required
improvements added.
Those items included in the capital improvements program are known as capital projects, which are defined as
(a) any physical betterment or improvement, including furnishings, machinery, apparatus or equipment,
(b) any preliminary studies and surveys relating to any physical betterment or improvement,
(c) land or rights in land,
(d) any combination of the above.
*
State enabling legislation for municipalities to undertake capital
program-ming was passed in 1962. (General Municipal Law, Section 99-g).
The annual operating budget of the Town will include operating costs,
plus appropriations for those capital projects to be begun that year
which are to be financed wholly or partially by current revenues. If
the capital project is scheduled to take longer than one year, only
that portion of the cost ex-pected to be spent during the first year
should be included in the annual budget. Projects that will be
financed outside the annual budget will not appear in the budget. The
capital improvements program is generally developed by the Planning
Board. Each municipal official, when preparing his annual budget
request, should prepare a list of capital projects, includ-ing general
cost estimates and priorities. The Planning Board, after re- , viewing
all proposed capital projects, should develop the capital improve-ments
program for the next six year period. The first year of the capital
program is then submitted to the Town Board for approval, in the same
man-ner as the budget is approved. The Town Board may amend the
capital program prior to passage.
The Capital Improvements Program is in two parts, a fiscal analysis, and the first six year Capital Improvements Program.
FISCAL ANALYSIS
Introduction
The
purpose of the fiscal analysis is to provide a basis for making
recom-mendations for a capital improvements program for the development
of the municipality. It is not a fiscal study for the purpose of
making budget or tax recommendations, but rather to examine the base
upon which the recom-mended capital improvements program shall rest. In
many instances 1966 fiscal data is the most recent published data
available. This report focuses on the Town of Marbletown and though
there are special districts in Town such as school and fire which are
an integral part of the Town, they shall, because of their unique
nature, be treated separately in this report.
The Tax Base
The
tax base of a community consists of the value of all fully taxable
pro-perty within the Town limits. The value of property for taxing
purposes is referred to as 'assessed value'. Assessed value generally
does not reflect market value. The relationship between assessed value
and full value (100% value) is expressed as a percentage. Thus on the
following table assessed value was 30% of full value (100%) in 1956 and
23% in 1966. Tax rates and property tax levies in the Town are based
upon assessed value.
The amount listed on the following table as 'Fully Taxable' is that
portion of the assessed valuations which is taxable for town purposes.
Property purchased with the proceeds of a pension, bonus or insurance
granted by the U. S. or New York State for military or naval services
is exempt from general taxation but is taxable for school purposes and
is also subject to assessment on the basis of benefit. The exemption
is limited to $5,000 of assessed value per taxpayer. 'Taxable for
Schools' is the assessed valua-tion of property taxable for Town
purposes plus pension-exempt property. 'Wholly Exempt from Taxation'
includes the valuation of all property both public and private, which
is not subject to ad valorem taxes for any pur-pose. Some properties
which are wholly exempt from ad valorem taxes may be assessed on the
basis of benefit for certain services.
In order to insure an equitable sharing of the tax burden among
communi-ties, the New York State Board of Equalization establishes the
relationship between assessed value and full value of real property.
Ulster County also establishes a ratio of assessed value to full value.
In summary, the tax base is that portion of real property which is
subject to taxation by the municipality for municipal purposes. It is
expressed in terms of assessed valuation which represents a percentage
of full value. The following shows the tax base of the Town of
Marbletown during the period 1956 to 1966.
TABLE 1: ASSESSED VALUE, EQUALIZED VALUE AND EQUALIZA-TION RATE IN THE TOWN OF MARBLETOWN 1956-1966
Assessed Value ($million) Equalization Rate Equalized Value ($million)*
Year Fully Taxable School Purposes Wholly Exempt State County Fully Taxable School Purposes Wholly Exempt
1956 $4.04 4.10 .15 30 30 13.47 13.67 .50
1957 4.24 4.30 .15 31 30 13.68 13.87 .48
1958 4.19 4.26 .15 31 31 13.52 13.74 .48
1959 4.25 4.31 .15 31 31 13.71 13.90 .48
1960 4.30 4.36 .15 28 31 15.36 15.57 .54
1961 4.35 4.53 .49 27 28 16.11 16.78 1.81
1962 4.39 4.58 .49 27 27 16.26 16.96 1.81
1963 4.46 4.67 .50 27 27 16.52 17.30 1.85
1964 4.49 4.70 .55 25 27 17.96 18.80 2.20
1965 4.55 4.77 .57 24 24 18.96 19.88 2.38
1966 4.82 5.06 .56 23 24 20.96 22.00 2.43
* based on State Equalized Rate 1956 through 1966
Source: New York State Comptroller, Special Report on Municipal Af-fairs, 1956-1966
The
columns of equalized value of fully taxable property and property
tax-able for school purposes reflect the growth of the tax base in the
Town. The equalized value of fully taxable property has increased by
55.6% between 1956 and 1966. The equalized value of property taxable
for school purposes showed a 60.9% increase. The value of wholly
exempt property increased by 366% and also increased as a percentage of
fully taxable property from 3.7% in 1956 to 11.6% in 1966.
The Tax Rate
The tax rate is the amount per $1,000 of taxable assessed valuation
which is required to raise funds needed in the operation of the Town.
The tax rate times the fully taxable assessed value yields the amount
to be raised by property taxation. Overlapping jurisdictions make tax
races difficult to compare; for example, the Town is served by several
special districts, (6 fire and 2 light) school districts. The following
tables show the tax rates for the Town of Marbletown excluding special
districts and tax rate compari-sons between the Town of Marbletown and
the Towns of Hurley, Rosendale, Rochester and Wawarsing.
TABLE
2: TAX RATES (County & Town) PER $1,000 OF ASSESSED VALUE
AND PER $1,000 FULL VALUE 1961 for 1962 THROUGH 1967 for 1968 - TOWN OF
MARBLETOWN
Year Tax Rate Per $1,000 of Assessed Value Equalization Rate Tax Rate Per $1,000 of Full Value
1961 for 1962 37.395 27% 10.097
1962 for 1963 38.380 27 10.363
1963 for 1964 36.755 27 9.924
1964 for 1965 45.914 24 11.019
1965 for 1966 44.555 24 10.693
1966 for 1967 49.507 23 11.387
1967 for 1968 66.232 23 15.233
Source: General Tax Table for Ulster County 1961 for 1962 through 1967 for 1968
The
above Table includes the tax rate to raise taxes for County and Town
purposes. The 1966 for 1967 tax rate of 49.507 per $1,000 of assessed
value was composed of 31.997 or about 65% for County purposes and
17.510 or 35% for Town purposes.
TABLE 3: TAX RATES (County & Town) PER $1,000 OF FULL VALUE
TOWN OF MARBLETOWN (Compared to Towns of Hurley, Rosendale, Rochester
and Wawarsing 1961 for 1962 and 1967 for 1968)
Tax Rates Per 1961 for 1962 $1,000 of Full Value 1967 for 1968
Town of Marbletown 10.097 15.233
Town of Hurley 8.422 14.143
Town of Rosendale 7.883 13.357
Town of Rochester 11.997 17.764
Town of Wawarsing 9.280 15.046
Source: General Tax Table for Ulster County 1961 for 1962 and 1967 for 1968.
The above Table indicates that the Town of Marbletown tax rate was
higher than the other Towns except Rochester in the above periods.
Revenues
The revenues for the Town for municipal purposes have been
separated into three categories: Real Estate Taxes for Town Purposes,
State Aid and Other Revenue. The real estate tax for Town purposes is
obtained by applying the tax rate to the fully taxable assessed
valuation. State Aid includes per capita aid and support fog specific
special programs as pro-vided by the State of New York. Other revenue
includes interest and penalties on taxes, licenses, permits, fines and
other miscellaneous items. Such items as bonds and notes are not
included as revenues.
TABLE 4: REVENUES IN THE TOWN OF MARBLETOWN 1956-1966 (in thousands of dollars)
Year Real Estate Tax for Town Purposes State Aid Other Revenue Total
1956 46.9 15.4 7.8* 70.0
1957 48.8 18.2 4.0 71.0
1958 58.2 21.2 4.7 84.2
1959 69.5 22.6 4.0 96.1
1960 68.9 22.5 4.0 95.4
1961 72.2 22.0 4.7 98.9
1962 77.9 24.5 3.8 106.3
1963 82.6 24.2 3.8 110.6
1964 95.7 24.8 5.9 126.4
1965 76.6 31.9 4.9 113.4
1966 72.1 37.7 4.8 114.6
* includes $4,427.56 of Federal Aid
Note: Totals may not add because of rounding
Source: New York Comptroller, Special Report on Municipal Affairs 1956-1966
Total
Revenues increased by 107% from 1956 to 1966. In 1956 real estate
taxes for Town purposes were 67% of the total revenue but decreased to
approximately 63~'n by 1966. State aid vial approximately ~12% of
total revenue in 1956 but increased to approximately 33% in 1966.
Expenditures
Expenditures in the Town of Marbletown have been divided into three
cate-gories: current operations, capital outlay and debt service.
Current operations include normal operations and maintenance of the
Town. Capital outlay includes disbursements for the construction,
improvement or acqui-sition of fixed assets. Debt service reflects the
costs of redemption of long and short term obligations, both principal
and interest.
TABLE 5: EXPENDITURES IN THE TOWN OF MARBLETOWN 1956-1966 (in thousands of dollars)
Debt Service
Year Current Operations Capital Outlay Principal Interest Total Expenditures
1956 68.2 5.0 7.6 0.3 81.2
1957 82.5 - 5.7 0.4 88.7
1958 85.6 - 9.4 0.8 95.8
1959 83.8 - 9.1 0.9 93.8
1960 94.3 0.8 9.9 0.7 105.6
1961 108.2 - 9.5 0.6 118.4
1962 94.3 - 12.6 0.9 107.8
1963 98.8 5.9 10.5 0.8 116.1
1964 114.2 4.9 10.5 0.7 130.3
1965 113.0 - 14.4 0.9 128.3
1966 105.0 5.2 15.4 0.5 126.0
Source: New York State Comptroller, Special Report on Municipal Affairs 1956-1966
Note: Total may not add because of rounding
Total
expenditures in the Town of Marbletown increased by 55% between 1956
and 1966. Current operations represent the major portion of total
expenditure in the Town. Expenditures for capital outlay have been
sporadic; being $5,000 in 1956, $800 in 1960 and $5,900 in 1963 and
$5,200 in 1966. Debt service generally increased between 1956 and 1966.
Debt Position
The
amount of debt which a town in New York State may incur for general
town purposes is limited by State law to 7% of the average full
valuation of real property taxable for town purposes as shown on the
last 5 completed assessment rolls for which equalization rates were
established as of the close of the fiscal year. Thus the town's
capacity to incur debt is closely tied to its tax base and increases as
the tax base increases. With the con-sent of the State Comptroller,
certain self-sustaining improvements and services may have their
indebtedness excluded when computing the outstand-ing debt which is
subject to the 7% limitation. The debt margin or avail-able borrowing
capacity is the difference between_ the constitutional debt limit and
the outstanding debt.
TABLE 6: DEBT POSITION OF THE TOWN OF MARBLETOWN 1956-1966
Outstanding Debt
Year Constitutional Debt Limit Amount % of Limit Debt Margin
1956 791,449 20,600 2.6% 770,849
1957 870,454 31,100 3.6 839,354
1958 870,454 34,096 3.9 836,358
1959 948,751 26,970 2.8 921,781
1960 976,037 30,279 3.1 945,758
1961 1,013,307 40,540 4.0 972,767
1962 1,049,694 33,618 3.2 1,016,076
1963 1,019,537 25,930 2.4 1,065,607
1964 1,151,099 27,820 2.4 1,123,279
1965 1,201,698 21,803 1.8 1,179,895
1966 1,269,120 - - 1,269,120
Source: New York State Comptroller, Special Report on Municipal
Affairs, 1956-1966.
The constitutional debt limit has increased consistently between 1956
and 1966. The outstanding debt reached a peak in 1961 and has been
decreased by retirement between 1961 and 1966. The debt margin or
available bor-rowing capacity in 1966 was slightly over 1 1/4 million
dollars.
Special Town Districts
Within the Town of Marbletown there are six fire districts and two
light districts. The Cottekill and High Falls districts service a
portion of the Town of Rosendale as well as the Town of Marbletown.
Data are not available to show only the Town of Marbletown's portion
of revenues and expenditures on the following table and therefore the
following table does not include the Cottekill and High Falls fire
districts.
TABLE 7: SPECIAL DISTRICTS IN THE TOWN OF MARBLETOWN* 1956 - 1966 (in thousands of dollars)
REVENUES EXPENDITURES
Year Real Property Taxes & As- sess- ments Other
Revenue Total Borrowings Current Operations Capital
Outlay Debt Service Total Outstand-ing Debt
1956 7.5 0.3 7.8 23.1 5.4 1.0 0.9 7.3 3.3
1957 7.8 0.6 8.4 1.5 6.5 22..9 1.7 31.1 25.5
1958 11.1 0.2 11.3 13.2 5.5 3.1 4.5 13.1 23.2
1959 11.4 0.5 11.9 - 7.0 14.3 5.4 26.7 32.8
1960 13.7 1.8 15.5 - 8.2 1.3 6.0 15.5 27.9
1961 13.8 1.1 14.9 - 8.8 2.0 4.9 15.7 28.9
1962 15.0 0.8 15.8 -
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