The new state budget will provide both a restoration and an increase for the City of Cortland, Senator James L. Seward said today. The budget includes a $29.6 million increase in aid for cities to help ease the burden of local property taxes and assist them in meeting the needs of their residents. The increase was part of the public protection and general government budget bills (S.6800-D, S.6806-C) passed by the senate.
The governor's budget cut AIM (Aid and Incentives for Municipalities) funding for Cortland by $43,841. The bill passed Thursday restores the cut and adds new funding to bring Cortland's aid increase to $225,341 for a total of $2,227,192.
"This is about doing whatever we can to relieve property tax burdens for families, seniors and small business owners," Senator Seward said. "The Spitzer/Paterson cut in aid to local governments would have raised property taxes, so we fixed it. We promised it last year, and we're not breaking that promise."
Last year, the state made a financial commitment to local governments and local taxpayers across New York State with the four-year AIM formula. Local governments budgeted based on the state’s formula.
Seward said that property tax relief is through additional aid to cities was a priority in this budget.