Binghamton City Council Approves 2022 Budget With Tax Cuts

The City of Binghamton has a new budget that cuts property taxes for both commercial and private properties.

Photo: Bob Joseph/WNBF News (file)

Binghamton Mayor Richard David issued a statement thanking City Council for approving the proposal in a 5-to-2 vote on Monday, October 25.

The $99.1 million budget is the last for the Republican who could not seek reelection due to term limits. David is running for the 52^nd New York State Senate seat that is opening as a result of fellow Republican Fred Akshar running for Broome County Sheriff.

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The new City budget carries a .11% tax reduction on residential properties bringing that rate to $21.90 per thousand of assessed value.

Commercial property tax rates are going to $40.70 per thousand of assessed value with that .11% tax reduction. The property tax reduction is the sixth consecutive cut in the eight years of the David administration.

In his September 15 budget address, Mayor David said a large portion of the spending was going to salaries and benefits but he also proposed millions of dollars be spent on infrastructure, including continued road repairs and improvements.

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