Proposes a 2.77% property tax increase

BINGHAMTON, NY - Broome County Executive Barbara J. Fiala delivered on her promise of fiscal responsibility again today when she delivered her fourth annual budget address. The proposed 2009 Broome County Budget calls for a 2.77% increase in the tax rate, well below the cost of living and consumer price index.

The address, delivered to a crowded legislative chamber Thursday evening, also included a call for a tax stabilization fund which amounts to $1.25 million dollars. Executive Fiala said this is an important step in her administration's attempts to keep tax rates from skyrocketing year to year.

“Our budget office worked in concert with our department heads to keep spending in check, in light of dramatic jumps in the cost of pretty much everything this year. We did control costs but we were also able to maintain our quality services,” said Executive Fiala. “From day one of this administration, my office has kept strict controls on county finances to ensure that we protect our taxpayers.”

Here are some highlights of this administration's fiscal approach to stabilizing county finances.

2009 Budget Address points include:

• Proposed 2.77% increase in tax rate
• Additional $36 to average homeowner in Broome County
• $350 Million appropriated for 2009
• Creation of Tax Stabilization Fund: set aside $1.25 Million to prevent rollercoaster tax increases
• County paying almost double for fuel in 2008
• Proposed Increase to BC Transit Fares which have remained unchanged for more than 10 years :
  • Fixed Route $1.00 to $1.25
  • BC Lift $2.00 to $2.50
  • BC Country $2.00 to $4.00
• Healthcare costs increasing but at a much more manageable rate
• Standard and Poor's Recent Confirmation of County's “A” Bond Rating
• Despite challenges there are many positive economic development stories, such as:
  • Increased Marketing Efforts
  • Brownfield cleanup and redevelopment
  • Overall Increased Assessed Values of Local Taxable Properties
  • Local Companies Growing;
    • Emerson Network Power Surge expanding in the Charles St. Business Park (formerly Anitec)
    • Westcode adding a third shift
    • BAE still expanding
    • EIT growing rapidly
    • Impress USA has chosen to expand in Broome County Corporate Park
• $2.3 Million appropriated to reinstate Intergovernmental Transfers from the Federal government which will lead to millions of dollars in additional revenues for county coffers
• Incremental leasing of county owned land to Natural Gas Companies-County proceeding cautiously

The 2009 Budget Message can be viewed at  www.goBroomeCounty.com. County lawmakers have until the end of November to finalize the spending plan for the next year.

2009 Recomended Budget and CIP
2009 Budget Address