albanyweblog.com
Updated
October 28, 2006
Jennings unveils $153 million Albany budget
Budget increases operating expenses for 2007;
no increase in property taxes
By CAROL DeMARE, Staff writer
Last updated: 2:12 p.m., Friday, September 29, 2006ALBANY -- Mayor Jerry Jennings unveiled a $153 million 2007 budget this morning that holds the line on property taxes and includes an increase in payments from the state in lieu of taxes.
The new budget increases operating expenses by 5.7 percent or $8.2 million over the 2006 budget of $143 million. That budget carried a 4.3 percent hike in property taxes.
Despite no increase in property taxes next year, the new spending plan will keep the city work force, including police and firefighters, at its current size and services will remain at their current level, Jennings said at a news conference in City Hall.
The increase in this year's budget will cover salary hikes for non-union and union employees, as well as additional payments on the city's debt service, and a rise in retirement contributions.
Jennings said as a result of his lobbying the state for additional payments in lieu of taxes -- PILOTS -- the agreement was amended this year to give the city $22.85 million instead of $16.85 million. Next year, the city will receive the same $22.85 million instead of $16.1 million that had been scheduled.
This site maintained by Lynne Jackson of Jackson's Computer Services.