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Under Spano's $1.114 billion combined city and school budget, property taxes for the average homeowner would increase by about $70 a year or $6 per month.
Residents can also expect a 2 percent increase in their water rate; the sewer rate remains the same.
"The fiscal year 2018 budget I present to you today is still a lean, balanced budget that strives to continue the progress we have made, with greater efficiencies and savings while staying within the confines of the state-mandated property tax cap," Spano said to the City Council.
The budget also provides for more savings through reorganization efforts while maintaining the same level of services, uses all of the city's fund balance and eliminates 36 vacant positions, but does not contain any layoffs.
The school's budget came in at $539.5 million, but Spano said he believed there were enough funds to keep all current programs in place.
Spano also announced the administration will convene a committee that will look at ways to restructure city government and seek ways to share services within all city departments including the Board of Education.
“As the budgets in the upcoming fiscal years are forecasted to be more difficult than in previous years, we need to continue to be efficient and conscientious of the fiscal challenges the City faces and utilize necessary tools to keep expenditures in line during Fiscal Year 2018,” Spano added.
The proposed budget will now go to the City Council for a series of hearing and possible changes. The council is required to adopt the budget by June 1. It would take effect July 1.
Budget Snapshot:
- $1.14 billion total budget
- Eliminates most vacant positions; does not contain any municipal layoffs
- Proposes 0.27% increase in property tax levy (lowest in 20 years)
- Yonkers stays within state-mandated 2% tax cap
- City provides the largest contribution to Board of Education in history at $539.5 million
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