Cortland Common Council on Tuesday (September 17) night voted unanimously to accept Mayor Tobin’s proposed $21.7M draft 2020 city budget, which would increase next year’s spending by $620K over 2019, and in turn raise property taxes for residents by a staggering 8.47%.
Two aldermen were absent from the meeting and did not vote.
In order for the city to even charge such a high rate, council will now consider lifting a state-mandated tax levy cap. Without doing so, the proposed increase would be offset by regulations put in place by New York State.
A public hearing on lifting this cap will be held at the start of the next council meeting on October 1.
Mayor Tobin first released the draft proposal earlier this month at the September 3 meeting.
He cited increasing costs and a decreased share of county sales tax revenue as primary drivers of the city’s revenue shortfalls.
Several public hearings on the draft budget will now be held before an official vote is taken, with the first also being held at the next council meeting on October 1.
Stay tuned with X101 for all the updates.