Utica’s tax base grew $5 million

Utica’s tax base grew by more than $5 million, giving village officials the attractive options of bringing in extra money, granting tax relief or both.

But the Utica Village Board wants time to think over its several options and voted Thursday to table a decision until December.

The village’s equalized assessed valuation climbed from $33.6 million last year to a projected $38.9 million, an increase of nearly 16%, thanks partly to residential growth.

When tax values rise, a city has the luxury of adjusting its tax rate to increase revenues, give taxpayers a break or some combination of both.

Trustee Nate Holland said he’s leaning toward boosting the levy by 5% (the maximum increase allowed without a public hearing), which would boost revenue and still trim the village tax rate, albeit by 2 cents.

“It’s kind of the best of both worlds,” Holland said. “It’s not a ton of money but it would be nice to say, ‘Hey, we saved you $10 or $20.’”

Separately, villagers get to see designs for the Mini Mill Street Shoppes, the outdoor retail plaza planned for the north end of downtown, at 6 p.m. Wednesday, Nov. 15.

The parcel on North Mill Street is in a flood plain and has not attracted permanent development, so the village instead plans to use the space to house portable retail stalls to operate seasonally.

In other matters, the village board:

Agreed to fund up to $6,000 the Christmas in the Village Event on Nov. 25-26

Replaced safety equipment for the maintenance department, not to exceed $12,000

Annexed property at 500 Hitt St. (the Knights of Columbus Hall) into the village