City of Schenectady, 2022 proposed budget no tax increase

Schenectady City Hall

The Schenectady City Council

SCHENECTADY, N.Y. (NEWS10) – On Friday, Mayor Gary McGarty introduces the 2022 Proposed Budget to members of the Schenectady City Council, includes no tax increase and restores 45 vacant positions eliminated from the 2021 Adopted Budget, due to the economic impact from the pandemic.

Prior to the COVID pandemic, the City of Schenectady was able to cut taxes for five consecutive years, by 8% from $13.88 per $1,000 assessed value in 2015 to $12.78 in 2020. 

The Tax Rate had increased by 1.4% in 2021, as part of the Adopted Budget to $12.96 per $1,000 assessed value, was due to projected COVID revenue shortfalls, which will remain slightly less than the Tax Rate of 2019.

In addition to no tax increase, the Mayor’s 2022 Proposed Budget will restore 45 vacant positions eliminated in the prior budget cuts due to the pandemic and support a total of 520 positions.

The 2022 budget proposes to include the use of $4,347,739 in funds through the American Rescue Plan Act (ARPA), in the restoration of staffing to pre-COVID-19 levels, as well as to offset Police, Fire, and administrative expenses related to the pandemic.

In total, the 2022 Proposed General Fund Budget is $97,362,233, and Proposed Tax Levy of $31,609,000, totaling a taxable assessed value is $2,438,097,929.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Download our news app

App Store Link
Google Play Link

Latest PODCAST episode

More PODCAST: On the Story with Trishna Begam

Latest COVID-19 News

More COVID-19