City of Yonkers Adopts 2016-2017 Budget
Yonkers, NY – June 9, 2016 -- Following weeks of budget hearings and public advocacy meetings, the City of Yonkers 2016-2017 Budget tonight was adopted with a 4-3 vote by the Yonkers City Council. The Budget increases funding for the Yonkers School District for the fourth consecutive year and contains no cuts in services or layoffs, or an increase in the real estate transfer tax.
“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) budget to $539 million, an increase of $15 million, plus an additional $35 million for school improvements and $5 million for textbooks and equipment. 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 $41.7 million since Fiscal Year 2012.
On the municipal side, the Adopted 2016-2017 Budget keeps all departments and City services whole, funding vital services such as police, fire, public works and parks personnel.
The Adopted Budget also provides $62 million in city capital improvements including:
· Hudson River Museum: Construction, Exhibition Galleries and Support Wing: $5.5M
· Nodine Hill Water Tower Painting and Maintenance: $3.75M
· Neighborhood Parks Rehabilitation: $8.24M
· New Firehouse Redesign: $1.2M
Additionally, tonight’s vote includes the City Council’s decision to raise the property tax as a means to balance the budget. The tax rate per thousand dollars of assessed value increases by 4.2%. A typical one-to-three family home at the median assessed value of $11,300 will see their annual property tax bill increase by $337, or $28 per month.
Mayor Spano commented, “I proposed a budget that stayed under the tax cap because I believe property taxes are too high, and I proposed an alternative that would have avoided a broad-based tax increase. But the Council has now spoken, and I respect their reasoning. Consequently, I pledge to make the Council’s revised budget work, and I promise to continue the progress we made the last five years by proposing greater efficiencies and savings for our residents.”
· City of Yonkers provides largest local increases in funding to Yonkers Public Schools in history
· No eliminations of municipal positions or cuts to vital services
· No increase in Real Estate Transfer Tax
· Property Tax increase by 4.2%
· $1.12 billion total budget
· $546.1 million municipal budget
· $570.3 million public school budget