HOMER, NY (607NewsNow) – Residents in Homer are looking at increased taxes.

In response to an anticipated loss in sales tax revenue, the Town Board has set a public hearing for October 8 to discuss overriding the 2% state tax levy limit.

Last month, the Cortland County Legislature approved a new sales tax distribution agreement that will see the town and village share decrease over the next several years.

Lower county sales tax distribution means higher taxes in Homer. Town Supervisor Mike Park says they need to make up for the projected loss in sales tax revenue, which he says will be about $157,000 next year.

Park adds the share percentage decrease is built into the front end of the 10-year deal. The percentage share will dip from its current percentage down to 16.25% in 2028 and will remain at that rate through the end of 2035.

The public hearing is scheduled for October 8 at 6:30 p.m.