[AUDIO] Utica Common Council Looks To Keep 2015 Budget Under 2%
The Utica Common Council Finance Committee is introducing a motion to vote against overriding the state mandated 2% Property Tax Cap law.
In years past, the Council has used the local override law to avoid financial penalties that come with a budget that includes more than a 2% increase in property taxes.
Councilmembers Ed Bucciero, Joe Marino and Samantha Colosimo-Testa introduced the motion with hopes that Mayor Rob Palmieri will have enough time to present a budget in early 2015 that falls within the 2% tax cap.
Bucciero says Utica has recently made efforts to reduce staffing and payroll, and have also paid off some of the City of Utica's major debts, amounting to a financial surplus that should make staying under a 2% tax increase much easier for 2015:
Councilman Joe Marino agrees that now is the time to get the City under 2%:
In addition to avoiding penalties, staying under 2% has an added advantage to Utica's property tax payers. Based on Governor Cuomo's 'Tax Freeze Proposal,' if Utica stays under the Property Tax Cap for the 2015 fiscal year, taxpayers will get a rebate check from the New York State Government.
Councilman Marino explains the Tax Freeze proposal:
The Common Council will vote on the proposition either at a special meeting next week, or at the next Common Council meeting on January 7.