PEEKSKILL, N.Y. -- The Peekskill Common Council will consider exceeding the state imposed taxy levy cap in the 2016 budget at a public hearing on Monday at 7:30 p.m. in City Hall.
According to The Examiner News, Acting Peekskill City Manager Richard Leins released a tentative $37.2 million budget that calls for a tax increase of 5.9 percent. For the average single-family homeowner in Peekskill, the increase would be $126.
The tax levy can only increase by .0074 percent under state guidelines.
According to Leins, mortgage tax revenue is down in the city and medical and Workmen's Compensation costs are projected to increase.
Mayor Frank Catalina said officials need to encourage developers to invest in Peekskill.