YONKERS – Mayor Michael Spano released his fiscal year 2016 budget proposal on Wednesday of $1.04 billion that includes a municipal operating budget of $518 million.
The executive budget proposes a $1.67 percent property tax levy increase. By staying within the cap this year, Yonkers residents will again be eligible to receive property tax rebate checks from the state. The actual tax rate will increase by 2.56 percent.
The spending plan maintains the level of services, contains no layoffs with some cuts to vacant positions. It also capitalizes on federal funding that will allow the city to hire 10 more police officers with eight to be assigned to newly-created walking posts.
The executive budget includes $525 million for the Board of Education with no cuts to the school system. The city will increase its maintenance of effort for the schools. This year’s $2 million increase comes on top of a $6 million increase over the last three years, bringing a total of $8 million to $212 million for fiscal year 2016. Combined with funding $26.2 million of school district debt service, the total city contribution is more than $238 million. That is the largest contribution to the board in the city’s history.
