Yonkers Mayor Mike Spano on Wednesday officially released his fiscal year 2025 executive budget proposal.

The proposal calls for $1.46 billion in total budget for the city, an massive increase of $32.7 million.

A 5.5% increase of the tax rate -- requiring the city to break the state mandated tax cap – was part of the proposal as well. Also included is $298.85 million for the Board of Education, the largest ever budgeted by an administration.

The Yonkers City Council must adopt the city budget by June 1, with the new fiscal year beginning a month later.