The Rensselaer County Executive has released his proposed budget for the coming year.
Republican Steve McLaughlin says the 2024 Rensselaer County budget, a $406 million spending plan, cuts property taxes for the sixth year in a row.
“Our property tax reductions provide relief for taxpayers, particularly young homeowners and seniors on fixed incomes," McLaughlin said. "Six consecutive tax decreases also help encourage further investment and growth in our county and they send the message that we are providing for today, while building for a better and stronger future. Under the 2024 budget, the county tax rate will decrease by 10%. This is another significant property tax reduction. And when coupled with the reductions of the previous several years means that county property taxes have been reduced by nearly 37%. That is historic. That is impressive. And it's a reason to be proud of the outstanding fiscal done work done on behalf of the residents of Rensselaer County not only by administered by my administration, but by this legislature because we have to do this together as a team.”
McLaughlin says that in a state where tax reductions are rare, local taxpayers now pay a rate comparable to almost 25 years ago.
“A county property tax rate of $3.85 per 1,000 that we are proposing is equivalent to the amount paid by county taxpayers in the mid-1990s. Nothing you are touching today is the same as it was, what it was, in the mid-90s. Last year's rate of $4.22 per 1,000 was the lowest rate since 2002. This year's rate of $3.85 per 1,000 brings us to the lowest tax rates since 1996,” said McLaughlin.
McLaughlin says the low rates have attracted major companies like Amazon and Regeneron to set up shop in Rensselaer County.
Cindy Doran is the County Legislature’s Deputy Minority Leader. “We certainly intend to look at this, review it line by line if we can, and you know, it's fairly lengthy, to make sure that everything has been done possible to provide all those necessary and essential services that you know our residents and around our county, expect and are paying for. And we know that our sales tax revenue has been rather hefty these past years. And we in the minority, are very grateful for that. And we've been able, as a bipartisan membership in the legislature to really provide some updates to not only buildings and roads, but programs, etc. And, of course, I would like to see that continue,” Doran said.
The Democrat notes the spending plan will be subjected to much scrutiny in the coming days. “There's a calendar of events when we will be voting on the budget. And there will also be budget hearing meetings where the public is invited to attend. Those dates are published on our website. At those meetings, folks can speak about you know, anything that's in the budget. And we take all of that very seriously,” said Doran.
The budget will be voted on December 4th.
