(Photo provided by Kevin L. Smith of The Cortland Voice).
The City of Cortland Common Council unanimously approved authorizations for the proposed 2024 budget’s revenue and tax anticipation notes at its meeting on Tuesday.
Both the revenue and tax anticipation notes have an authorization of an issuance up to $5,000,000, according to Tuesday’s meeting agenda.
City is proposing a $34.4 million austerity-based budget for 2024. Mayor Scott Steve said in October that the goal for the 2024 budget is to “reduce as much as we can” and go to “bare minimums.” Steve also announced a hiring freeze last month that will go into 2024.
Highlights of the city’s proposed budget includes a 4% tax rate increase, which requires approval to override New York state’s 2% tax cap. The potentially lifted tax rate comes with an increase of $64.20 annually for the average home assessed at $90,000. It also includes a wastewater (sewer) rate increase of 4.8%, which is $7.20 annually for a minimal bill account.
A breakdown of the proposed 2024 budget, along with potential policy and personnel changes, can be found here.
City council members will hold two public hearings prior to its next meeting on Tuesday, Dec. 5. The first hearing will be in regard to the city looking to override the 2% tax cap, and the second one is on the proposed budget.
Cortland officials will look to adopt the 2024 budget at its meeting on Dec. 19. Both city council meetings in December are scheduled to begin at 6 p.m.
