Updated: October 12, 2021 04:24 PM
Created: October 12, 2021 04:24 PM
Executive Budget 2022 Highlights:
Executive Budget stays under the state mandated tax cap for the 9th straight year and does not increase the tax rate.
The 4th year in a row the average property owner will see their tax rate decrease slightly.
5th year in a row the State Comptroller has placed Albany County in a category of “No Designation of Fiscal Stress”
Balanced budget is $753 million which is a 4.75% increase from last year’s adopted budget of $719.3 million.
The average $200,000 house would see about a $6 decrease in their taxes.
The tax rate has decreased each year over the last several years. Albany County tax rate per $1,000 of equalized assessed value has gone down from $3.95 to $3.45 since 2014.
No layoffs or cuts in programs or services and during both a global health crisis and an economic crisis.
No use of budget gimmicks.
How has this been achieved? Since 2012, diligent work on paying down debts while also adding money to reserves.
This year, Albany County received $29 million in federal stimulus money and used 27 ½ million to make up for lost revenues and increased expenses to help us go into 2022.
Last year, we offered an Employee Separation Payout netted 72 employees approved to separate employment saving Albany County about $5 million in salaries and benefits. Savings will continue into 2022.
Streamlining and rightsizing with the Comprehensive Workforce Development Plan to yield employee retention, equity and career progression.
Part of that plan involves employee incentives with improved longevity pay and medical, dental and vision plans.
This budget includes 2% raises for non-union workers.
Priorities- Economic Development with $250,000 investment in the Advance Albany County Alliance (LDC), and another $250,000 investment in the Albany County Land Bank (for a total of $3.5 million since inception) and 4th year of increased funding under the statewide implementation of Hurrell-Harring indigent legal defense reform championed by the County Executive.
Reminder- Approximately 80% of the total budget is mandated… the majority of which is unfunded… 60% from state and federal mandates and another 20% from local laws, resolutions or the charter.
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