Schenectady County property taxes would not change under a 2017 budget proposal introduced Monday by County Manager Kathleen Rooney.
The $318.6 million spending plan carries a property tax levy of $71.1 million. In one of the opening paragraphs of the 298-page document, it is noted "Containing property taxes is a #1 priority for Schenectady County," and goes on to paint tax containment as a multi-year commitment.
The soon-to-be-opened Rivers Casino & Resort is a main component of the spending plan, because on top of receiving $2.5 million in a licensing fee, Schenectady as host community will net 5 percent of gaming revenue collected by New York state.
County Legislature Deputy Chair Philip Fields says the revenues will enable the county to... "... pay down all our high-cost debt. And, by paying down our high-cost debt, primarily capital, boring costs and also pension amortization, which is something that we pay to the state comptroller for the years whereby pension costs increase. By paying these down, we're able to generate an additional, almost 1 percent savings in the out years. So what it means for us in the long run, is that if the model for what we're seeing in downtown Schenectady continues to be strong and to be vibrant as predicted, the levy for, other things being equal, the levy for Schenectady County will continue to decrease, which results in lower property taxes as the years go on. So we have provided in this particular budget for 2017, a zero percent tax increase, and also for 2018 as we start going forward, the number will be more negative than it is right now."
The Rivers Casino & Resort at Mohawk Harbor responded to a request for comment by email, saying the facility serves as “… a $330 million investment in New York's Capital Region, and in addition to hundreds of jobs, a direct benefit will be millions in tax revenue to host municipalities. Being a successful economic engine for the region is a central tenant of our company's operating philosophy, and we look forward to being a partner to the Capital Region, as we have done in other parts of the country."
The gambling hall is on track to open its doors in early 2017. The Rooney budget earmarks the first year of casino revenues to pay off a chunk of the county’s existing debt, enabling the property tax freeze. In subsequent years annual cost reductions would hover around the $900,000 mark.
Fields expects a planned coordinated visitors center will be established to boost tourism. "That will allow a coordinated effort to be done by all the businesses downtown and around Schenectady to attract people to Schenectady for whatever purposes, to use the hotels, to use the restaurants, to use the various other activities that identify what Schenectady is all about."
The tourism and convention bureau would be supported by increased revenue from the county's so-called "bed tax."
Over the next two weeks, Schenectady County legislators will review the package and hold meetings on it: a public hearing is scheduled October 17th. The legislature is will vote on adopting the budget October 18th.
