Lakewood Village Board Adopts Budget, Backs New Restrictions on Short-Term Rentals

There will be very little change in the property tax rate for residents of the Village of Lakewood after the village board this week voted to adopt a new budget that cuts more than $11,000. According to Mayor Randy Holcomb, village trustees were able to make a number of small cuts totaling $11,300 during their meeting on Monday. He says that brings the village's tax rate to $8.12 per thousand assessed value...

Randy Holcomb: a series of small cuts

That's approximately where the current year's budget rate was before it was increased to $8.17 per thousand due to a lower, court-ordered assessment on the Chautauqua Mall on Fairmount Avenue.

Holcomb says the village board also approved by a 4-1 vote a new law restricting where short-term rentals can be located in the village, beginning next year...

Randy Holcomb: will begin next year

Holcomb says six people showed up at the board meeting to voice concern over the proposal, which he says would allow for those rentals in the village's business districts. Holcomb adds the big change is not allowing them in R-1 residential areas where single-family housing is allowed.

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