Penfield Town Supervisor Tony LaFountain and the town board adopted the 2022 Final Budget at the October 27 legislative meeting. The Final Budget, including special districts, totals is $21,689,100, an increase of $1,056,301. Though there is an increase in appropriations, the tax levy is actually lower for 2022. The Town Operating Budget (without special districts) is $18,448,788. The Town share of the tax levy decreased approximately $2,000 and is below the tax cap by more than $500,000.
The tax rate for 2022 will be the same as 2021 at $2.78 per $1,000 of assessed property value. The average tax bill for Penfield governmental services in 2022 for a property with an average valuation of $205,000 will be $569.90. Penfield’s property tax rate remains one of the lowest of the 19 towns in in Monroe County. Town taxes account for approximately 7 cents of every dollar; county taxes are 24 cents and school 69 cents.
As in previous years, expenditures not under the Town of Penfield’s control continue to increase. For example, health insurance premiums are expected to increase. However, with its strong workplace safety environment and culture, Penfield’s workers compensation costs will remain flat at just 3.8% of payroll. In fact, as a benefit of its positive safety record, Penfield is paying 15% less than it did in 2016.
Penfield’s growth rate was just over one percent in 2021, resulting in a positive impact of actual new “bricks and mortar” properties and therefore more contributors to the tax levy.
With its history of fiscal discipline, the financial world consistently recognizes Penfield as one of the most financially responsible towns in New York State. Moody’s Investors Service continues its Aa1 credit rating of Penfield—one of the highest in the county and state. This rating allows Penfield to secure low-interest financing for capital projects (sewers, roadways, bridges), and assists with cash flow throughout the year. The Moody’s rating also reflects Penfield’s history of stable financial operations and strong management practices.
Further, the Town of Penfield continues to receive a respected “no designation” in New York State’s Fiscal Monitoring system. For 2020, Penfield’s score actually decreased 0.0 so the Town is once again well below the 44.9 percent tolerance point that New York State deems to be an indicator of possible fiscal stress. Factors included in the NYS’s review include cash ratio, employee salaries, debt burden, and fund balance.
Supervisor Tony LaFountain:
“On behalf of the entire town board, I am happy to report that there is no town tax increase in the 2022 approved budget. Revenues have returned to normal levels, and all department heads did an extraordinary job of managing their budgets in 2021 to come in below projected expenses. Also, we were able to receive some funding from state and federal governments during the year to help offset costs during the pandemic. Penfield’s financial health continues to be one of the strongest of towns in New York State.”
Town Comptroller Barbara Chirdo:
“The Town Board adopted another solid budget for 2022. This budget realizes a decrease in the tax burden to the residents while continuing to provide quality essential services as well as recreation and cultural programs. The Town’s current financial health and outlook for the future are strong and well below any level of risk for susceptibility to financial stress.”
Presumptive Penfield Supervisor-elect Marie Cinti:
"I am grateful for the opportunity to actively assist in the budget development process from beginning to end. The Town leadership recognizes that many Penfield families and business owners are still recovering from the financial effects of the pandemic. The budget that was passed this evening is a fiscally responsible budget that keeps the tax rate flat while still maintaining Town services."
As of October 28, the 2022 Adopted Budget is available online at www.penfield.org. After October 29, print copies of the Final 2022 Budget are available at the Penfield Public Library, 1985 Baird Road or by contacting the Office of the Comptroller in the Penfield Town Hall, 3100 Atlantic Avenue, in Penfield.