Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Budget topic
No spam. Unsubscribe anytime.
Peekskill council overrides state tax cap, adopts 2025 budget with 3.5% rate increase
Summary
The Common Council voted to override the New York state tax cap and adopted the 2025 City of Peekskill budget with a 3.5% tax-rate increase (the council projected this will equal about $100.57 annually for the average home); the roll calls show the measures passed largely along a 5–1 split on multiple items.
At a public hearing and subsequent votes, the Peekskill Common Council voted to adopt a local law overriding the state tax cap and then adopted the 2025 municipal budget. Council members said the final package reduced the manager’s initial levy proposal and represented negotiated changes to personnel timing, equipment leases and use of fund balance.
Controller Tony Tracy summarized the state tax‑cap calculation and the council’s adjustments. He said the levy increase exceeds the statutory 2% cap by about $490,000, and the council settled on a tax‑rate increase of 3.5 percent. Tracy explained the projection to the public as a per‑thousand change and provided an example for a typical household: “the bill is $2,009.74 and 5¢” under the new rate and the increase is roughly $100.57 annually (about $8.38 per month) for the average home.
Residents at the public hearing pressed the council on impacts to seniors and fixed‑income households; one commenter asked whether the city would prorate reductions if health‑insurance costs come in lower than projected and staff answered that once the budget is adopted there are no retroactive givebacks. The council proceeded to a roll call on the local law to override the cap and on the budget; the transcript records recorded votes with a typical outcome of five in favor and one opposed on major measures.
