Troy property owners address proposed tax increase during public meeting

TROY, N.Y. (NEWS10) – The people of Troy had the opportunity to tell the mayor what they didn’t like about his proposed budget for 2017.

The proposal includes a 28 percent property tax increase.

Alexander Ferrer has lived in Troy for over a decade. He and his wife own two buildings in the city, which they rent out to tenants. For them, the proposed budget was a shock.

“Was very surprised when I heard on the news today that there would be a property tax increase of nearly 30 percent,” he said.

Ferrer said it puts him and other property owners in a tough spot.

“It’s going to be very difficult not to increase the rent by a great deal in order to be able to pay this increase,” he said.

Troy Mayor Patrick Madden said he gets it.

“I do acknowledge it’s a tough increase, but what we are trying to do with that budget is right the financial ship,” he said.

And in order to do that, tough choices need to be made.

“It is painful, and we are looking at ways to manage that the best we can,” Madden said.

Another topic discussed that could help that burden is a new contract for the fire department – one that has been expired for four years.

“They have not seen raises; they have not seen changes in the work environment,” Madden said. “It’s time to address that. It’s long time to address that for our city workers.”

Ferrer agrees. He said first responders should be taken care of but in a responsible way.

“Do it in such a way that it’s balanced,” he said. “It’s fair and it doesn’t put such an undo amount of pressure on property owners.”

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