Senator Steve Saland (R,I,C Poughkeepsie) today announced the 2008-2009 State Budget includes an increase in State aid for cities, towns and villages. Aid and Incentives for Municipalities (AIM) funding is designed to help ease the burden of local property taxes and assist cities, towns and villages in meeting the needs of their residents. Governor Paterson had proposed a 2% reduction in AIM funding. The enacted budget restores that 2% reduction, keeps the proposed increase from the Executive Budget and adds an additional $29.6 million for cities.
"Last year we created a new four-year AIM formula so local governments would find it easier to plan their budgets -- they would know well ahead of time what their annual State funding would be," said Senator Saland. "Reducing AIM funding could have caused property tax increases for already overburdened property tax payers. This budget keeps the promise we made to local governments last year, and recognizing the financial plight of cities, we increased their AIM funding."
Below is a chart containing the AIM funding for cities, towns and villages in New York.