City HallFriday, November 6
Schenectady's council passes a 2027 budget with a 14% tax increase
The Today in Schenectady team
If you own a home in Schenectady, your 2027 tax increase just got smaller. The City Council voted 5-1 Thursday to override the state tax cap and pass a 14% rate increase, down from 42%. It came three days late, after Monday's meeting failed to pass the override.
What the 14% increase means for a tax bill
- 14%
- tax rate increase approved for 2027
- $15.48
- about, per $1,000 of assessed value, the new rate
- $380
- more a year on a house assessed at $200,000
Source: The Daily Gazette
Mayor Gary McCarthy said the budget process was difficult. He blamed the depletion of federal ARPA funding and what he described as mismanagement by past councils. He also said he's not happy with the budget that passed. The city faces a $14 million deficit.
- Vote: 5-1, with finance chair John Mootooveren opposed
- One council member was absent
- Next: a public hearing within 10 days of Nov. 5
- State aid the city plans to seek: nearly $7 million
Councilman Hayden Engert called it a bare-bones budget. If the state aid doesn't come, he said, "We would have to cut expenses. And unfortunately, I don't know where we would start."
The council cut next year's tax increase from 42% to 14%
Source: WNYT.com
View as table
| Value | |
|---|---|
| Earlier increase | 42% |
| Approved increase | 14% |
Sources: WNYT.com, WRGB, The Daily Gazette, NEWS10 ABC