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City of Yonkers Adopts 2020-2021 Budget

Post Date:05/29/2020 5:12 PM
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Budget Stays Within State-Mandated Tax Cap; 

Maintains City Services & Provides Largest Contribution to Yonkers Public Schools

YONKERS, NY – May 29, 2020
 -- Following weeks of budget hearings, the City of Yonkers 2020-2021 Budget was adopted today with a  6-1 vote by the Yonkers City Council. The Adopted Budget stays within the state-mandated property tax cap and maintains all city services.

The Adopted Budget stays within the state-mandated property tax cap and includes an increase in the property tax levy of 1.58%.  A typical one-to-three family home at the median assessed value of $11,000 will see their annual property tax bill increase by approximately $225 annually. City water and sewer rates will remain flat.

“This year’s budget has proven to be one of the most difficult as our city, state and country deal with the economic impacts of a global pandemic,” said Mayor Spano. “The city has lost millions in economically sensitive revenues. Despite this, we stayed within the tax cap so as to not overburden our taxpayers as they, too, are trying to navigate this storm.”

The 2021 Adopted Budget also increases the School District’s budget, totaling the city’s contribution to $269.6 million -- making it the largest local share of any big city to a district outside of New York City. Despite the record increase in the City’s school funding, the School District still will need to eliminate up to 168 positions because Yonkers continues to receive far less school funding from the state government than the state’s other large cities.

Mayor Spano commented, “While the city has provided record aid to our schools, it is still not enough as the state did not provide the additional funding to our schools as we had hoped. Our schools will have to make some tough decisions and need to work within the allocated budget so that our students, teachers, administrators and staff can still work efficiently and effectively.”  

“Clearly this year’s budget is a tough one, but by working together with our local leaders, we are maintaining quality services for our residents, relieving our taxpayers as best as we can and making the vital investments in education so we can keep moving Yonkers forward,” Mayor Spano added.  

Budget Snapshot:

•        $1.24 billion total budget

•        Includes record increase in aid  to Yonkers Board of Education 

•        Maintains city services; Yonkers Public Schools to eliminate 168 positions

•        Contains 1.58% increase in property tax levy; stays within state-mandated tax cap

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