The new state budget restores an AIM (Aid and Incentives for Municipalities) funding increase for the City of Little Falls, Senator James L. Seward said today. The restored funding was part of the public protection and general government budget bills (S.6800-D, S.6806-C) passed by the senate Thursday.
Gov. Paterson cut the scheduled AIM increase for Little Falls by $18,235. The bill passed Thursday restores the cut to the agreed upon increase of $75,284, for a total AIM package of $911,772. Most municipalities had budgeted based on the scheduled increase.
"This is about doing whatever we can to relieve property tax burdens for families, seniors and small business owners," Senator Seward said. "The 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, and Governor Paterson recommended cutting the increase.
Seward said that property tax relief is through additional aid to cities was a priority in this budget.