The City of Geneva has unveiled a budget proposal that increases the tax levy by 20%, from last year’s $8.4 million to nearly $10.7 million. Despite this rise, homeowners might experience a small reduction in their property tax bills due to a recent reassessment of property values.
City Manager Amie Hendrix presented the $22.3 million spending plan, noting that the total taxable value in the city has increased from $488.6 million to $727.5 million. This reassessment allows the tax rate per $1,000 of assessed value to decrease from $17.25 to $13.97.
Under the new assessment, a home valued at the median of $143,900 would incur a tax bill of approximately $2,010, about $17 less than the previous year’s median home tax bill. Hendrix reported that 92% of residential properties saw increased valuations to reflect current market rates.
The city has scheduled a series of work sessions and a public comment period to discuss the budget:
- October 2: Public Comment Session from 7 p.m. to 9 p.m. at City Hall Council Chambers, 47 Castle Street, 2nd floor. The session will be livestreamed on the City of Geneva NY YouTube channel.
- October 9: Budget Work Session
- October 16: Budget Work Session
- October 23: Budget Work Session
- October 30: Budget Adoption Meeting
Residents are encouraged to participate in the public comment session to express their views on the proposed budget. The city aims to address funding needs while attempting to minimize the financial impact on homeowners.
For more information about the budget proposal and meeting schedules, visit the city’s official website or social media platforms.
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