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Lawmakers approved the $1.9 billion budget on Monday, with the measure quickly signed off by Westchester County Executive George Latimer. (See video above.) The budget was approved by a 13-4 vote, with the support of county Democrats.
Officials said that the tax rate increase is to help offset tens of millions of dollars in deficits that the county is currently operating against. There are no planned cuts to staff or service in the approved budget, which is contingent on the county selling several parking lots that surround the County Center in White Plains. The sale of the lots is expected to net more than $20 million.
The tax levy increase is the first since Latimer took over as county exec last year. The county could have raised taxes by as much as 4.5 percent, but were able to curtail that number with certain allowances. The county was operating at a $32 million deficit to end last year, with a larger deficit expected to end this year.
The new budget comes weeks after Westchester’s financial standing took a hit, losing its AAA rating. The county has now lost its AAA rating - the highest ranking available - in each of the Big 3 rating agencies.
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