From left, Lakewood Trustee John Shedd, Trustee Ellen Barnes, Mayor Randy Holcomb, Trustee Ben Troche, and Trustee Scott Cooper look over the proposed $5,822,633 village spending plan. P-J photo by Michael Zabrodsky

LAKEWOOD – Only two residents at a public hearing Monday commented on the proposed 2026-27 Lakewood budget.

In March, Mayor Randy Holcomb said the proposed $5,822,633 spending plan is considered an “all-in” budget. The mayor noted that estimated revenues are $3,021,838 and the tax levy (amount to be raised by taxes) is $2,900,795. The estimated tax rate is $6.46 which decreased $3.46 from the 2025-2026 tax rate of $9.93.

In the 2025 tax year, the town of Busti conducted a town-wide revaluation, the first full town reassessment since 2014.

Over time, the value of property changes, depending on sales, condition, location, etc. Some values change more rapidly than others. Reassessment is the only way to be sure that all property is being assessed fairly and similarly to comparable properties.

So, village residents may have seen their property values change.

Prior to the public hearing, trustees held a budget workshop where they continued to look at line items which can stay or be cut from the budget.

Resident Richard Fischer said the $6.46 tax rate is not accurate, and said the rate is more like $11.98.

“If you look at using the assessment from last year and what you need for the taxes this year, it is by far the highest tax rate that the village of Lakewood has ever seen – the highest in the last 15 years,” Fischer said. “What have you cut?”

Another resident, Carol Jones, said with the new assessment, her rate is increasing by 50 percent.

She said her family moved to the village in 1988, and from 1988 to 2024 her family’s property taxes and assessments have not only doubled, but tripled.

“Between last year and this year, our tax bill will have doubled in just two years as opposed to taking 36 years to get to that same point.” Jones said. “It’s unsustainable.”

Trustee Ben Troche noted the village’s expenditures only have gone up $51,000 compared to 2025-26.

“assessments are nasty, I’m with you on that,” Troche said to Jones. “That’s the town (of Busti), and I agree. I don’t like this budget, and we have a ton of proposals and a lot of work to do. That was the point of this budget hearing, and we haven’t had work sessions previously. So I think that shows that we’re serious about it.”

Trustee Ellen Barnes said the budget has to be adopted by May, and trustees will continue to work on the budget. The tentative budget also can be viewed at lakewoodny.gov.

After the hearing had closed, trustees held their regular meeting, and approved the village’s Fourth of July celebration with a rain date of July 5. The celebration will include fireworks, live music, bounce houses, and vendors along Chautauqua Avenue.

Trustees also approved $8,275 for purchasing five new police radar units, and approved a special music permit, from May to September for Group Ther-Happy, 103 Chautauqua Ave.