YORKTOWN, N.Y. (October 27, 2020) – Supervisor Matt Slater presented a proposed 2021 budget today that included a property tax decrease for most homeowners with no cuts in services.
Under the proposed $60.7 million budget, a home with town utilities assessed at $10,000 would see a tax rate decline of 0.57 percent, or about $14 lower than the 2020 tax. A home without town utilities would see a tax rate decline of 0.54 percent, or about $11 lower than the 2020 tax.
“Thanks to our ability to manage this unprecedented time, we are proposing a budget that cuts property taxes by 0.5%. This will protect homeowners and taxpayers. And it’s key to our plan to grow our Town economy out of this crisis,” said Supervisor Slater.
The proposed 2021 budget includes significant spending reduction in equipment, medical expenses, part-time salaries and retirement. Revenue losses anticipated by the proposed 2021 budget include $1 million in state grants and $180,000 in state aid to municipalities.
Yorktown’s 2020 revenue losses attributable to the pandemic total $5.5 million. The losses included recreation fees, fines, bail, inspections and state aid.
The pandemic-related recession curtailed town spending, but Supervisor Slater noted that Yorktown still accomplished many public works projects, including the renovation of the Mohegan Avenue retaining wall, street repaving and the renovation of the Railroad Park train station.
Yorktown also witnessed significant investment throughout 2020. Earlier this year Nestle Waters opened a distribution plant and town officials approved a new CVS drugstore. Developers have also proposed building a specialty grocer near Lowe’s and repurposing the former Toys ‘R’ Us building.
“Yorktown is in a strong position to keep this momentum going in 2021,” said Supervisor Slater. “As we see other state and local governments struggle with staggering deficits, Yorktown has averted a fiscal crisis. We expect more investors to notice our fiscal responsibility and take greater interest in our community.”