Yonkers city officials say they are facing a budget crisis of their own on top of state and national financial problems.

Last week, Mayor Phil Amicone announced that the city will face a $16 million budget gap, which means as many as 300 jobs will need to be cut by the end of the year.

Officials say the budget gap is caused by lower revenues and increased expenses. In addition, they say some residents aren?t paying their property taxes on time, if at all. Yonkers Finance Commissioner Jim LaPerche told City Council members Tuesday night that the median price of a home in Yonkers remains stable at $544,000, but that fewer homes are selling. Furthermore, he says Yonkers property tax revenues are off by $643,000.

?As a city, we are now looking creatively at other ways to generate [money] to the city outside of relying on mortgages and sales and real estate,? Budget Committee Co-chair Patricia Dow says.

Amicone can make the cuts to the budget without council approval.