Ithaca school board previews 2025–26 rollover budget, proposes tax levy near cap to reduce shortfall

The Ithaca City School District board on March 11, 2025 reviewed a preliminary “rollover” budget for 2025–26 that would keep most programs at current levels while proposing a $169,811,365 spending plan, a 4.17% increase from 2024–25.

District staff presented comparative figures showing projected revenues of about $164.07 million at a flat tax levy, leaving a gap of roughly $5.1 million. Staff modeled revenue scenarios from a 1% levy increase up to the calculated tax levy limit of 3.76%; at the 3.76% cap the shortfall falls to a little over $900,000, which staff said they expect to address through continued budget refinement, investment returns and use of fund balance if necessary.

Why it matters: the board must set a levy and finalize a budget this spring. Changes in the levy and in assessed values will affect…