November 27, 2017
ELMIRA, NY (WENY) -- Elmira City Council unanimously approved a measure Monday night, paving the way for an override of the state tax cap.
The resolution gives the city permission to exceed the tax cap, should they need to do so.
According to the State Comptroller's Office, the tax cap for 2017 is set at 0.68 percent. The city has yet to unveil its 2018 proposed budget, which, will happen by December 15th, after council previously approved a deadline extension.
City Manager Michael Collins says it's a precautionary move, but there is a strong possibility that taxes will increase.
"I continue to be in contact with the Financial Restructuring Board - we are looking at different options and other avenues to generate money. I can't sit here and tell you what a tax increase will be, but will there be a tax increase? The likelihood is extremely high," Collins says.
A public hearing on the measure to override the state tax cap is set to take place on December 11th at 5:30 p.m. during the next regularly scheduled council meeting.