SARANAC LAKE — Harrietstown is proposing a $7.3 million budget which would stay well below the state-imposed tax cap.

A public hearing on the proposed budget will be held tonight at the Harrietstown Town Hall starting at 5:15 p.m., before the board’s regular meeting. Earlier, at 2 p.m., a hearing on the Franklin County tentative budget will also be held at the town hall. To read more about that budget, go to tinyurl.com/4anr3y8y.

The Harrietstown budget projects to spend $7,311,837 in the coming year, $416,093 more than the current year, a 6% increase. It also projects bringing in 6.7% more in revenue in the coming year than the current year — $3,666,031, $230,736 more than the last budget.

The proposed budget calls for the town to collect $2,912,206 in taxes, a levy of $75,357 more than last year, a 2.65% increase. This is $13,274 under the state-imposed tax cap, which limits how much the town can increase its draw from taxpayers from year to year. The tax cap this year was set at $2,925,480, an allowable 3.1% increase.

The tax rate for someone living in the town — as well as the village of Saranac Lake — would be $2.10 per $1,000 of assessed value, not including taxes for any additional water or sewer districts. This is a nine-cent increase.

The tax rate for someone living in the town, outside the village, would be $3.74 per $1,000 of assessed value on a home. This does not include taxes for any additional water or sewer districts. This is an eight-cent increase.

For a person with a home assessed at $300,000 in the town and in the village, this would be a base tax rate of $630 — $27 more than last year.

For those with a home assessed at $300,000 in the town outside of the village, this would be a base tax rate of $1,122 — $24 more than last year.

The proposed budget calls for the town to use $733,600 from its reserves to balance the budget, $110,000 more than last year.

The town has $925,594 in its general reserves for inside the village, inside the town and $365,360 in general reserves for inside the town, outside the village. It has more than $2.65 million in reserves for the airport.

It also has $432,000 in highway reserves, $183,052 in water reserves, $89,756 in sewer reserves, $27,701 in fire protection reserves and $78,900 in special grant reserves.

The proposed budget includes slight raises to the salaries for the supervisor and councilmembers — a $1,475 raise for the supervisor, a 4.5% increase bringing that annual salary to $33,975, and $217 raises for each of the four councilmembers, a 3% increase bringing those annual salaries to $7,450 each, or $29,800 cumulatively.

Last year, the budget included a $11,669 raise for the town supervisor, a 56% increase that was contested on the board and among the public. The current budget also carried $211, 3% raises for the four council members.

Town Supervisor Jordanna Mallach said there aren’t a ton of changes in this budget. It includes funding for two new trucks for the highway department, increases to the town’s insurance coverage, additional money for Harrietstown Cemetery to make necessary repairs and a decrease in what the village charges the town for fire protection.

This only impacts houses outside the village.

Harrietstown pays 57.867% of the fire department budget which is between three towns and the village of Saranac Lake.

The vast majority of the expected revenue in the budget comes from the airport. Mallach said it costs a lot to run the airport, too, though. The airport — with all of its land, buildings, equipment and utilities, is valued at $18.575 million, according to the budget.

To read the full proposed budget, go to tinyurl.com/325vaywf.