BEACON – The City of Beacon’s 2023 general fund budget, approved by a unanimous vote of the city council, comes in at $22 million.
Property taxes are, for the most part, stable, due in large part to the recently approved new sales tax agreement the cities of Beacon and Poughkeepsie reached with Dutchess County, said Mayor Lee Kyriacou.
“Our first-year number is up by $1 million. Just to give you a sense of how big that is, that is probably a 20 percent boost in our sales tax revenue and represents about eight or nine percent of our tax base. So, it’s a huge number and it will grow over the next 10 years,” he said.
Kyriacou said $5 million of the city budget will be covered by sales tax income alone.