CITY OF YONKERS ADOPTS 2017-2018 BUDGET

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CITY OF YONKERS ADOPTS 2017-2018 BUDGET

Adopted Budget Contains Lowest Property Tax Increase in 20 Years;

No Cuts in Essential Services or Municipal Layoffs;

Stays Within State-Mandated 2% Tax Cap

 

City Provides Largest Contribution in History to Yonkers Board of Education

 

Yonkers, NY – June 1, 2017 — Following weeks of budget hearings and public advocacy meetings, the City of Yonkers 2017-2018 Budget tonight was adopted with a 7-0 vote by the Yonkers City Council. The Budget increases funding for the Yonkers School District for the sixth consecutive year, stays within the state-mandated tax cap with the lowest property tax increase in 20 years and contains no cuts in services or layoffs.

“Overall, this year’s Adopted Budget is a lean, balanced budget that provides greater funding to our schools and students and maintains the level of quality services our taxpayers deserve,” said Mayor Spano.

The City of Yonkers is increasing the Board of Education’s (BOE) operating budget to $557.3 million, which includes $15.7 million from sales tax revenue which will be dedicated to education funding and an additional $400,000 towards funding five guidance counselors, which increases the City’s Maintenance of Effort. This is the largest contribution to the BOE in the City’s history. The City’s combined contribution to the Board of Education has increased by $42.6 million since Fiscal Year 2012.

On the municipal side, the Adopted 2017-2018 Budget maintains all departments and City services, funding vital services and restoring vacant positions in police (5), fire (5) and parks (4).

Additionally, tonight’s vote includes the decision to stay within the state-mandated tax cap, allowing for a 0.23% property tax levy increase, the lowest property tax increase in 20 years and qualifying taxpayers for the State’s tax relief credit program.

The tax rate per thousand dollars of assessed value would increase by $4.60, an increase in the tax rate of 0.61%. Under the proposal, a typical one-to-three family home at the median assessed value of $11,200 would see their annual property tax bill increase by $51.52, or less than $4.30 per month.

Additional items restored in the Adopted Budget include funding for Untermyer Performing Arts Council (UPAC) and anti-violence program SNUG.

Mayor Spano commented, “This year’s budget is a tough one, one that contains tough choices. We will have challenges as we move ahead towards next year’s budget because although our revenues continue to grow, they are being outpaced by our labor union contracts, pensions and healthcare costs. In the meantime, I plan to address our needs to our state and federal government and to pledge to continue the progress we made the last six years by proposing greater efficiencies and savings for our residents.”

Budget Snapshot:

  • $1.154 billion total budget
  • Eliminates most vacant positions; does not contain any municipal layoffs
  • Proposes 0.23% increase in property tax levy (lowest in 20 years)
  • City of Yonkers stays within state mandated 2% tax cap
  • City provides largest contribution to Board of Education in the City’s history

 

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