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McCoy releases 2025 Executive Budget

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By Melanie Lekocevic

Capital Region Independent Media

Albany County Executive Daniel McCoy unveils the 2025 Executive Budget, which will next go to the Legislature for review. Contributed photo

ALBANY — Albany County Executive Daniel McCoy last week released the Executive Budget for fiscal year 2025.

The $847 million proposal represents a 3% increase over last year’s 2024 adopted budget, which came in at $822 million.

The 2025 spending plan includes a reduction in the county tax rate to $2.73 for every $1,000 in assessed property value, which is a decline compared to the 2024 rate of $2.84. Ten years ago, in 2014, the rate was $3.95, or a 30% reduction over the past decade, said McCoy, a Democrat.

The county continues to face fiscal challenges such as inflation and economic shifts in a post-pandemic economy.

“Despite the challenges posed by rising inflation, global economic shifts and unfunded mandates, I have delivered on my commitment to provide the highest level of services at one of the lowest tax rates in New York state,” McCoy said. “This budget represents more than a decade of decreasing the effective property tax rate and will allow us to build off of our progress to ensure continued economic growth and job creation.”

“It has not been easy, but I’m proud to oversee a budget that has cut the tax rate 30% since 2014,” McCoy added.

Albany County has the 11th lowest tax rate in New York state among 62 counties statewide.

No programs or services face cuts under the Executive Budget.

The 2025 budget anticipates over $4 million in annual savings through a partnership with Health Insurance Solutions, Inc., to provide prescription drug coverage to county employees. Over the past two fiscal years, the arrangement saved a cumulative $5.7 million, McCoy noted.

The spending plan includes a $3.65 million grant for the Sustainable Technology and Green Energy Program to support clean manufacturing expansion projects; $2.2 million in American Rescue Plan funds for workforce development in underserved communities; funds from an opioid settlement grant to fund treatment, recovery, prevention and education programs, as well as $800,000 to expand county addiction recovery programs; and an additional $250,000 in funding for food assistance programs, among other initiatives.

Minority Leader Frank Mauriello of the Republican and Conservative Conference of the Albany County Legislature responded to the Executive Budget.

“Eleven straight years of cutting the county property tax rate is good news for homeowners and businesses,” Mauriello said in a statement. “The fact that Albany County continues to make significant investments in our infrastructure, economic development, childcare, elder care and fight against the mental health and addiction crisis is also good news.”

But Mauriello added that the county continues to be hampered by unfunded mandates handed down by New York state.

The Legislature will review the Executive Budget in the coming weeks before the final 2025 spending plan is adopted.

“As with any budget, the devil is always in the details,” Mauriello said. “Our Republican and Conservative Conference will analyze this proposed spending plan closely, and work with all of our colleagues in the weeks ahead to ensure we adopt a final budget that is fair to businesses, families and taxpayers.”

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