PEEKSKILL, N.Y. -- A budget proposal submitted by Peekskill City Manager Anthony Ruggiero would include a 3 percent tax increase for residents, according to theexaminernews.com.
Even with the increase, the budget for the city is in better shape than it was at this time last year, when the city raised taxes 3.8 percent and was forced to eliminate nine full time positions from the payroll, according to theexaminernews.com.
The proposed budget of $50.5 million would be a decrease of over $600,000, but would still require the use of $106,000 from the city's fund balance. By comparison, Peekskill had to use $1 million from the fund balance last year, according to theexaminernews.com
For the average Peekskill resident, the proposed 3 percent increase would constitute an increase of about $75 in additional taxes, according to theexaminernews.com.