Ithaca’s proposed 2025 budget of $107.5 million represents a 6% increase from last year, largely driven by rising labor, health insurance, and retirement costs.
While the property tax rate is set to drop slightly from $11.98 to $11.87 per $1,000 of assessed value, property owners may still see higher tax bills due to a growing tax base.
City officials have warned that cutting spending further could lead to layoffs.
The Common Council will review and vote on budget amendments this week, with a final decision expected by early November.
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