Proposed 2023 budgets for Albany County and Troy are being released today.
Democratic Troy Mayor Patrick Madden unveiled a $79.8 million dollar spending plan that proposes a 1.98% property tax increase, with an average monthly increase of $3.73 for homeowners with a home valued at $150,000
"It's under 2%," said Madden. "It's under the state tax cap. And that I think, was a significant accomplishment, given the increases that we've been seeing as a result of rising energy costs, rising interest costs, and just general inflationary pressures. Just to give you some examples, we have contractual labor increases this year of roughly $460,000. Our contribution in New York State Pension has gone up significantly, because I believe, because the market has performed so poorly. So we'll see an increase this year, our payments to New York State Pension Plan of $650,000. Health care cost increases a million dollars, general insurance increases of $450,000, energy increases of 450,000, interest increases of a half a million dollars. And then just general inflation and the consumables that we use to keep everything running, $750,000. So all told, I think that's close to $5 million increases just as a result of market conditions that we're all confronted with."
The budget capital plan includes investments in various city-owned facilities, parks, and critical infrastructure projects.
Madden adds there is a modest increase in the water rate, which will amount to about $5 per quarter for the average homeowner. There will be a $33 hike in the “trash fee,” currently $219 annually, according to the city website.
Republican City Council President Carmella Mantello says there is a special meeting Tuesday, kicking off a dozen public hearings and workshops on the budget. In a statement Friday Mantello called the trash fee hike "unacceptable." The comptroller and mayor are scheduled to provide a presentation Wednesday at 5:30.
"This is not going to come as a surprise to them that we've had a tight budget year," Madden said. "I think that, you know, the response should be, you know, good job. You've, you've managed these increases for next year, in a way that is not overbearing on the taxpayer.' But we are in a political environment, and we'll see what they say."
Madden says coping with the 8% national inflation rate is something all municipalities are keeping an eye on.
Albany County Executive Dan McCoy, also a Democrat, is out with his proposed 2023 Executive Budget of $756.8 million, a 5.9% increase over 2022. McCoy says thc county has the ninth-lowest tax rate in the state, according to the comptroller.
"We are holding our property tax increase to zero again," McCoy said. "So we're not raising taxes, not raising the levy. This is living within our means. And the cost of business goes up, as you know, you know, the costs of everything's going up. And I have to assure your listeners, we were at like $3.45 per 1,000 in assessed value, we dropped it down to $3.17. This is a 20% reduction since 2014 for the taxpayers in Albany County, living within our means. So again, the value of properties go up, sales tax revenues going up, this is giving all workers a 2% raise across the board, and investing in our green, sustainable technology for our Green Energy Act."
Budget highlights include $4 million in funding for the Sustainable Technology and Green Energy Act, $250,000 in operational funding for the Advance Albany County Alliance and $250,000 in operational funding for the Albany County Land Bank.
"I take pride in the fact that we continue to hold down taxes for the taxpayers, give them the relief they need, but have a budget not only not to change our workforce and our services going forward, but also has money in there so if this economy continues to go in the other direction, we'll be in a position to assist the residents of Albany County, not raise taxes on them," said McCoy.
