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Norwood may get biggest tax cut in 25 years

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NORWOOD — The tentative village budget for 2013-14 would drop property taxes to their lowest level in 25 years, according to Mayor James H. McFaddin.

The budget totals about $1 million, just over half of which is funded through property taxes.

The proposed property tax rate of $13 per $1,000 dollars of assessed value is $1 lower than last year and the lowest the budget has been in at least 25 years, according to Mr. McFaddin.

The rest of the budget will be made up in federal and state funding, along with other sources.

“We’re in very good financial shape,” he said.

The savings came as several long-time staff members retired last year and were replaced. The new hires began working part time with no benefits before being moved to full time, providing savings for the village.

Norwood also hired people with mechanical experience so that more equipment repairs and maintenance could be done by village workers rather than hiring outside companies at higher cost.

The tax cut will probably not be a one-year event, he said, as the village is trying to extend the savings into the near future.

Mr. McFaddin is looking for more ways to cut costs, including the feasibility of solar energy for village buildings.

Major projects for the upcoming year include repairing damage on Ridge Street, adding a sidewalk to Spring Street and making improvements to the wastewater collection system.

The budget will now be sent to the village board so trustees can have their chance to make any desired changes.

It will be voted on during the board’s April 15 meeting and will take effect May 1.

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