ALBANY, N.Y. (NEWS10) – Albany County will continue its trend of zero tax rate increases, according to County Executive Dan McCoy.
This is the fourth year in a row the budget has come in under the tax cap.
The $652 million proposed budget includes the creation of a $1.7 million Tax Stabilization Reserve Fund.
The fund would be paid for using the Schenectady’s Rivers Casino’s licensing application fee and would be used to offset any unforeseen tax increases in the future.
“[With] a budget that size, you’ve got to have 10 percent in reserves for rainy days and emergencies. We currently have $57.5 million in our reserves. It’s the highest it’s been in two decades,” McCoy said.
McCoy also wants to create a new department of recreation, which would support programs like the county rail trail, hockey facility, and Lawson Lake County Park.