Mayor Palmieri Unveils Utica Budget Proposal With No Tax Increase
Utica Mayor Robert Palmieri presented his 2022-23 budget proposal to the Board of Estimate and Apportionment on Monday.
The $74.4 million spending plan comes with no property tax increase.
The mayor’s budget increases spending by less than one-percent for the 14th straight year.
Last month, the city secured its 9th consecutive budget surplus and increased its fund balance to over $11 million, the highest level in decades.
Palmeri says a key indicator of economic development is growth in sales tax, and the city has seen a consistent increase of sales tax revenue, while the city’s sales tax has increased by 22-percent since 2013.
He says another significant financial accomplishment is the expansion of the city's tax base by $7 million, with the Urban and Economic Development having successfully marketed and sold over 800 foreclosed properties to private developers since 2012.
Palmieri says he cumulative impact of budget surplus’, increase of fund balance, tax base expansion and increasing sales tax revenue has a substantive and positive effect on the budget.
“The track record and credibility of this Administration in improving the finances of Utica is strong. As a result of our improvement, the city is able to implement a self-insurance plan, a goal that would have been inconceivable 10 years ago,” Palmieri said. “For the eleventh consecutive year, I am proposing a fiscally responsible budget which provides the services and resources needed for continued economic development. I look forward to working with Comptroller Morehouse and the Common Council in the coming weeks.”
The Mayor’s Budget Message and Proposal will be posted on the city website,
www.cityofutica.com on Tuesday February 8.
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