Syracuse residents may see a slight increase in property taxes and water rates under the mayor's proposed budget for the next fiscal year.
Mayor Ben Walsh on Monday presented a new $310 million budget plan for 2024 fiscal year, which he said includes enhanced services for parks, public works, police, fire and schools, but also raises some costs for residents.
The mayor's proposal calls for a 2% jump in property taxes, and a water rate increase that could boost the typical bill by $1.65 per quarter, the mayor's office said in a news release. Walsh said the increases will help offset an expected 5% growth in expenses due to to inflation and labor costs.
"I do not take these increases lightly. But they are measured responsible steps that must be taken now to make up for rising costs and continue closing our structural budget deficit. Failing to act now will only set the city up for deeper pain and a fiscal crisis down the road," Walsh said at the presentation to the Syracuse Common Council.
The Common Council will review the budget this month. Officials are expected to vote on a final version by May 8. The next fiscal year begins July 1.