YONKERS - Yonkers Mayor Mike Spano has released his proposed budget for the 2014-15 fiscal year.

The proposed budget calls for a 1 percent increase in property taxes and increase in income taxes, from the current 15 percent to 19 percent. Spano says for the average taxpayer, this means an additional $140 a year.

The city is dealing with a budget mess due to an accounting error from the school district. The state lent $28 million to bail out the district, but the bailout calls for the city to consolidate many of the school district's non-academic functions. Spano says the proposed budget "possibly" means no teacher layoffs.

The city council must approve the budget by June 1.