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Ithaca's Common Council passes a 2027 budget that stays under the tax cap
Ithaca's 2027 budget is 8.6% above this year's
Source: The Ithaca Voice
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| Value | |
|---|---|
| 2026 budget | $111.5M |
| 2027 budget | $121.1M |
If you own property in the city, here's your 2027 number: Ithaca's Common Council voted unanimously Wednesday to pass a budget with a 2.72% property tax increase. That keeps the city below New York's tax cap for the first time in five years.
The tax cap is a soft state limit on how much a local government's total property tax revenue, called the levy, can grow from year to year. After amendments, the budget stands at $121,080,402. It got there despite an initial $8 million revenue gap at the start of the budget process.
- Operating expenses: nearly $118.8 million
- Capital improvements: $23.8 million
2.72%property tax increase in the city's 2027 budget
The increase stays below New York State's property tax cap.
Sources: Finger Lakes Daily News, The Ithaca Voice
