Stratford OK’s 2025 budget with 3.9% tax hike
By Kevin O’Brien
Stratford officials approved a $2.2 million general fund budget last week with a property tax levy of just under $700,000 for 2025.
The village will collect $699,506 in taxes next year, a nearly $26,000 (3.9 percent) increase over this year. Overall, though, the village’s revenues will drop by an estimated $800,000, mostly due to a major reduction in anticipated borrowing next year.
With the money it borrows in 2025, the village intends to spend $48,000 on a public works truck, $25,000 for asphalt at the village garage, $10,000 for playground improvements, and $5,000 for sidewalks.
Stratford will receive about $10,000 more in shared revenue from the state, up to $492,185, but its transportation aid will drop by $18,400, down to $165,222. Most of the village’s other revenue sources are expected to stay mostly the same in 2025.
On the expense side of the budget, the village will cut its election wages and other related costs roughly in half and spend $2,000 more for both accounting and assessor services, to a combined total of $16,000. The village’s insurance premiums will jump by 17 percent up to $55,000, which is close to what it spent in 2023.
Stratford also plans to more than double the amount of money it spends on engineering services next year, which is projected to increase from $7,000 to $15,000, according to the adopted budget. The budget includes $131,200 for road repairs and maintenance in 2025.
Under its law enforcement budget, the village’s police chief will see a $2,800 increase in his salary, up to $72,800, and wages for full-time officers will increase by $6,000 while part-time wages and overtime will decrease by the same amount. The village will pay $5,730 more for fire protection in 2025, an increase of 9.2 percent over this year.
The village is also scheduled to make $247,288 in debt payments next year, which includes nearly $52,000 for principal and interest on a Clean Water Fund loan and $79,000 for general obligation debt issued in 2023 and 2024.
