Proposed 2014 Ithaca City Budget Would Increase Taxes 2%
Ithaca City taxpayers would see their property tax bill increase 2% under Mayor Svante Myrick’s proposed 2014 budget, the spending plan features the smallest tax levy increase in 14 years
The proposed $64.5 million budget would increase taxes by $8 dollars for a home assessed at $180,000.
The tax increase comes as the Ithaca city council looks to close a $2 million dollar deficit.
To close that gap, Mayor Myrick is proposing to increase sales tax collection estimates, he is anticipating more revenue from parking violations in city garages and is looking to sell some city owned properties. The tentative budget calls for the use of $580 thousand dollars in reserves to hold down the proposed tax increase.
The budget includes the creation of a new position in the City Police Department; the Deputy Chief of Professional Standards will be in charge of internal and external investigations.
Myrick is negotiating with Cornell University to increase the amount of money it gives the city to help offset the cost of providing police and fire protection to the campus. Currently Cornell gives the city $1.25 million each year.
The City Council is expected to adopt the budget in November.