Upon approval of the budget under section 1503, the amounts stated therein as the amount to be raised by property taxes, reduced by cash surplus from excess collected property taxes, fees, charges, fines, and interest, if any, as indicated by the statement of the Village auditors, shall constitute a determination of the amount of the levy for the purposes of the Village in the corresponding tax year, and the trustees shall levy such taxes on the grand list furnished by the listers of the Village of Poultney for the corresponding tax year.