The proposal includes:
- 1% reduction in the property tax rate
- No increase in sewer or water rates
- Full staffing of all city departments
- Decrease in spending from the General Fund adjusted 2022 city budget
“Inflation has exacted a toll on our purchasing power, but we prepared for that possibility when we implemented our Tax Stabilization Plan one year ago,” said Keeler. “As a result of that planning – as well as an increase in sales tax revenue and savings generated from our recent LED streetlight rollout – we’re able to cut property taxes.”
In addition to the reduced energy costs associated with streetlight conversion, the city is also realizing savings from a citywide recycling program that significantly reduced landfill tipping fees. Mayor Keeler presented his budget proposal to the Board of Managers, who have until September 30, 2022, to review and make changes. The Board of Managers will have until October 1 to submit a budget proposal to the Cohoes Common Council, and the Council will have until November 15 to authorize a final budget.
A public hearing on the Cohoes 2023 Fiscal Year budget is scheduled for Tuesday, October 11, 2022, beginning at 7 p.m., in the Cohoes Common Council Chambers, 2nd floor of City Hall. The meeting is open to the public.