Yonkers adopts $1.64B budget, trims tax hike to 4.75%, boosts school funding
Yonkers NY – The City Council adopted a $1.64 billion budget on May 29, lowered the tax hike to 4.75%, and added $56.3 million for schools.
Yonkers City Council unanimously adopted a $1.64 billion FY2026-2027 budget on May 29, setting the city’s tax-rate increase at 4.75% instead of the earlier 5.25% proposal.
The budget takes effect with the new fiscal year on July 1 and keeps active municipal services and the city workforce in place. For homeowners, the adoption locks in the property-tax change. For renters, business owners, and workers, it sets the spending plan that will shape city services and costs over the next year.
A major piece of the budget is support for Yonkers Public Schools. The city says the plan adds $56.3 million in additional school support, including $17.3 million for school infrastructure and Wi-Fi improvements and $6.3 million for textbooks, laptops, and other educational equipment.
City officials framed the final budget as a compromise that preserves services while trimming the tax-rate increase by 0.5 percentage points from the original proposal. The adopted plan also includes appropriations to settle uniform union contracts.
Residents now move into the July 1 fiscal year with the city’s spending plan set. The next things to watch are how the budget is carried out, how the school money is spent, and whether any service or labor issues affect the year ahead.
