Binghamton New York Mayor Unveils 2026 Balanced Budget

On Monday, at City Hall, Binghamton Mayor Jared Kraham announced the 2026 Budget Address.

The announcement included a $111 million spending plan. That plan provides major investments throughout the city, along with a slight decrease in the property tax rate.

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This budget is the result of years of smart fiscal decisions that are paying off, protecting hardworking taxpayers while making the investments residents deserve in the areas that matter most. With this spending plan, we’re continuing to drive change in Binghamton, revitalizing our neighborhoods, prioritizing public safety, and creating new opportunities for residents. - City of Binghamton Mayor Jared Kraham

According to the release, some highlights from Maror Kraham include the following:

• A 0.1 percent property tax decrease for homeowners and a 1.7 percent decrease in the non-homestead property tax rate
• An increase of $10.8 million in assessed property value
• Investments in public safety, including funding to support full-staffing for the Binghamton Police Department
• Two new attorney positions to improve the speed and impact of the City’s code cases
• $10 million for the City’s neighborhood street program to pave roads, fix curbs and sidewalks, and replace aging water and sewer infrastructure, in addition to other major infrastructure investments
• $300,000 to support blight removal in neighborhoods across Binghamton
• Investments in housing, home repair assistance for seniors and low-income residents, and support for first-time homebuyers
• Expanded neighborhood beautification efforts
• Funding to support programming at the new City-run youth recreation center on Hawley Street, upgrade City parks, and explore the installation of a new splash pad in the First Ward

For complete details on the 2026 City of Binghamton budget address, visit Mayor Jared Kraham's website. 

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