Greece adopts 2026 budget; board cites solar project and lower tax rate

The Greece Town Board adopted its preliminary 2026 budget on Nov. 20, approving the town’s estimates and special district assessments and recording a proposed tax rate of 5.68.

John Helman, director of finance, told the board the town has stabilized its finances since a 2014 deficit and has secured more than $40 million in grants since 1989. He said the town borrowed $4.82 million to advance a solar farm project; he described the borrowing as covered by a federal rebate under a ‘‘safe harbor’’ provision and said construction would proceed so the rebate can be claimed when the project is completed, with the solar farm expected to begin operations in mid‑2026. Helman estimated the solar installation will save the town about $1 million per year in utility costs once online.

Analyst John Nataly summarized that the budget does not rely on fund balance to balance the books and that the 25‑cent reduction in the tax rate from the prior year should translate into approximately $50 in savings on a $200,000 assessed home. Board members pressed staff about the borrowing interest rate (reported at about 2.75%) and the projected impacts on debt service; Helman noted the borrowed amount is expected to be rebated by federal funds once the project is placed in service and that the town remains projected to end the year with three to four million dollars in surplus funds for transition to the next administration.

Board discussion also highlighted rising employee benefit costs: staff reported benefits increased by roughly $2.4 million this past year and that benefit expenses have grown by about $6 million over three years, driven in part by expensive prescription drugs and other medical cost drivers.

The board voted to adopt the preliminary budget and special district assessments; the meeting record notes the motion carried.