Westchester residents expected to see lower property taxes for fiscal year 2020Posted: Updated:
Westchester County residents are expected to see lower property taxes for fiscal year 2020.
On Wednesday, County Executive George Latimer announced broad aspects of his proposal.
The degree of the property tax cut has not been finalized yet because the county continues to look at the total expense of the budget – but with the cut can come an increase in sales tax.
Latimer says the cut is likely because they implemented a hike in the sales tax earlier this year.
In the county's reserve fund, Latimer says he plans to add $10 million to raise the total to $79 million.
He also says the budget will be balanced without borrowing or using one-shot revenues - like selling land.
Latimer says the total budget and size of the cut are still being sorted out. He plans to propose the finalized plan on Nov. 8. It’s all up to the Board of Legislators to adopt in December.