Council adopts 2022 budget

Posted 12/1/21

The City of Newburgh unanimously adopted the newly proposed and reviewed city budget for the Fiscal Year 2022. Mayor Torrance Harvey thanked City Manager Todd Venning, the comptroller’s office …

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Council adopts 2022 budget

Posted

The City of Newburgh unanimously adopted the newly proposed and reviewed city budget for the Fiscal Year 2022. Mayor Torrance Harvey thanked City Manager Todd Venning, the comptroller’s office and other parties for their work on the budget.

“I’m really proud of the budget,” Harvey said. “I’m proud to say our fiscal house is in order.”

According to city budget records, in 2021, the City of Newburgh had a general fund budget of $49.1 million and a proposed budget of $54.5 million for 2022. The city records show that although the 2022 budget is approximately 11 percent higher than the 2021 budget, the 2022 property tax for home owned properties (known as homestead properties) will decrease by 3.9%. For business owned properties (known as non-homestead properties) the rate will decrease by 6.4% from 2021. According to city budget records, the proposed tax rate for homestead properties in the City of Newburgh for 2022 is 15.1% per one thousand dollars of assessed value and 22.0% for non-homestead properties. For example, a homestead property that has a market value of $150,000, the 2022 tax rate will decrease by $91.80 over the 2021 rate. For the non-homestead property owners, the tax rate will decrease by $225.10.

“This year’s budget proposes a tax levy that’s under the cap. This is the third year in a row that we are reducing the tax rate for the homestead properties, second year in the row that we are reducing the rate for the non homestead property,” Venning said.