4 thoughts on “Former Finance Commissioner Michele Madigan Weighs in on Minita Sanghvi’s Proposed 2023 City Budget”

  1. From Minita’s presentation:

    The New York State Property Tax Cap limits the amount the city can increase the tax levy (amount of property tax bills) to the lower of 2% or the rate of inflation. For fiscal year 2023, the allowable levy is 2%.
    If the total property taxes levied was less than the tax levy limit in the prior year (2022), a local government is permitted to carryover the lesser of 1.5% of the prior year levy limit or the difference between what was actually levied and the levy limit. The maximum Available Carryover that the city can apply to 2023 tax cap calculation is $328,098, the 1.5%.
    For this reason, we’re raising our real property tax from $6.43 to $6.67 for Inside District and from $6.37 to $6.61 for the Outside District, which is an average increase of 3.72%.

    What am I missing here? 2% plus a carryover of 1.5%. would be 3.5% max increase?


  2. While the Finance, Accounts, and Public Works budget hearings have passed, there is still time for the public to attend these:

    Budget Workshop & Public Hearing Schedule

    Wednesday, October 19th @ 10:30 AM:
    Department of Public Safety

    Monday, October 24th @ 3:00 PM:
    Mayor’s Department, Department of Civil Service
    Wednesday , October 26th @ 4:00 PM:

    Capital Budget
    Friday, October 28th @ 3:00 PM:
    Summary of Amended Budget

    The times are not exactly convenient for most residents, there’s still a chance to attend the final three “workshops.” You can see the “minutes” of the DPW workshop here:


    I put workshops and minutes in quotes because there’s nothing in the document about public or other comments, just a breakdown of the budget, itself.

    Liked by 1 person

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