Binghamton Budget Plan Carries Tax Rate Reduction
The City of Binghamton's residential property tax rate would drop slightly under the budget proposed by Mayor Richard David.
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The mayor released details of a $92.1 million spending plan on Tuesday night.
David's budget calls for a 0.25 percent decrease in the tax rate for city homeowners. The plan carries a commercial tax rate reduction of 0.84 percent.
Binghamton has earned the distinction of having the highest property tax rate of any of New York's cities.
The mayor wants to spend $5.6 million for street reconstruction, paving and utility improvements in 2017.
David is calling for the allocation of $331,000 to demolish abandoned buildings in the year ahead.
The mayor said his budget proposal maintains the integrity of a "broad range of municipal services" and supports ongoing revitalization efforts for the city.
David said he expects downtown parking revenue will increase by 30 percent. He noted parking kiosks soon will be installed to replace old meters in the downtown business district. He said the kiosks will accept credit cards and won't be prone to the mechanical problems that have plagued the meters.
City Council will review the budget proposal over the next several weeks before considering possible changes.
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