Utica’s Tax Base Increases By $8 Million

The City of Utica's tax base has increased by over $8 million in 2016.

That's the largest one year increase in ten years.

Mayor Robert Palmieri says the increase is the direct result of the city's diligence in successfully marketing foreclosed properties to private developers and putting them back on the tax rolls.

Since 2012, the city has sold 11 major commercial properties to private developers, nine of which are located in the Downtown/Bagg's Square corridor.

Including the pending sale of the Rite Aid building, the downtown properties alone have combined for over $1 million in sales; put nearly $6 million of assessed properties back on the tax rolls and yielded over $34 million in private investment.

Palmieri said, “The expansion and increase of our tax base is a result of the hard work and public-private partnerships we’ve fostered over the past five years.  While we are certainly not satisfied and understand there is more that needs to be done, this report is an undeniable validation of our progress and efforts.”