$2.4B Westchester Budget For 2024 Signed By County Exec Latimer: Here's What's In It

The budget, which totals $2.4 billion, was signed by Latimer on Monday afternoon, Dec. 11 following its passage by the Westchester County Board of Legislators earlier in the day. 

According to county officials, the new budget maintains the same property tax levy as 2023, which means it is the fifth consecutive year without a levy increase. 

The budget also includes additions approved by the Board of Legislator's Budget & Appropriations Committee. These additions to the operating budget include:

• More than $2.5 million for youth programming and services; 
• $8.8 million for non-profits that provide essential services to residents;
• More than $4 million for community centers and community-based services;
• $550,000 for cultural organizations;
• $620,500 for organizations fighting food insecurity;
• $1 million to address domestic violence. 

Meanwhile, the capital budget reflects a total of $510.7 million in new appropriations. This includes $354.7 million for upgrades to housing, environmental initiatives, parks, infrastructure, and transportation, as well as $156 million that will go toward refuse, sewer, and water districts. 

County Legislator Jewel Williams Johnson, Chair of the Budget & Appropriations Committee, called the budget "sound and balanced." 

"It upholds our commitment to programs that meet the needs of Westchester County residents," Johnson said, adding, "This budget is also a catalyst for creating an even more inclusive economy."

The passing and signing of the budget comes just after the county's credit rating was upgraded by Fitch Ratings to a prestigious "AAA" credit rating.

• Earlier Report - Westchester's Bond Rating Upgraded By Fitch: 'Disciplined Financial Management'

Additionally, the county has also received a revised outlook from S&P Global Ratings, which now rates the county as "positive" instead of "stable" and affirmed its long-term rating of "AA+" on the county's existing general obligation bonds.

Moody's Investors Service also announced its rating of the county's credit, affirming it as Aa1 stable, county officials said.

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