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Cohoes, NY (September 18, 2020) – Cohoes Mayor Bill Keeler today released his proposed 2021 budget, designed to guide the city through the economic fallout from the COVID-19 pandemic. The $24.5-million budget proposal, includes:
“Just like every city across New York and around the country, the City of Cohoes and our residents are facing severe fiscal stress due to the COVID-19 pandemic. Therefore we must not shift the city’s budget burdens to households in the form of property tax increases or water and sewer rate hikes,” Mayor Keeler said. “We are confronting this problem by operating with a leaner budget with improved efficiencies.”
Cohoes is facing a $1.4 million+ COVID-19-related drop in revenue in 2020, with equivalent revenue declines anticipated in 2021. This includes a 20% shortfall in New York State aid payments equaling $550,000 and an $800,000 decline in County Sales Tax receipts. The City is also experiencing a significant decline in user fees, permits, and other revenue.
read full press release here