Yonkers adopts $1.64B budget, trims tax hike to 4.75% as schools get more aid
Yonkers NY – The City Council unanimously adopted a $1.64 billion budget, trimmed the proposed tax hike to 4.75%, and set aside $56.3 million more for schools.
The Yonkers City Council unanimously adopted the city’s FY2026-2027 budget on May 29, locking in a $1.64 billion spending plan for a fiscal year that begins July 1. The final budget lowers the proposed property-tax increase from 5.25% to 4.75% and adds $56.3 million in additional support for Yonkers Public Schools, according to city materials.
Property taxes are still going up, but the final vote reduced the increase from the earlier proposal. For homeowners, landlords and renters who ultimately feel local tax costs through housing and operating expenses, the smaller increase matters even if it does not erase the added burden.
What changed in the final plan
The city says the adopted budget preserves active municipal services and workforce levels. In practical terms, Yonkers is signaling that core city functions should keep operating at current levels as the new fiscal year starts, including the day-to-day services residents rely on most.
That makes the budget a direct resident-impact decision, not just a bookkeeping exercise. The final plan sets the tax rate, service levels and school support for the year ahead.
Schools remain a major piece of the budget
The city also says the budget includes $56.3 million in additional support for Yonkers Public Schools. That is part of the city budget, not a separate school-district vote, but it still matters for parents, teachers and students because it is meant to support the district within the city’s broader spending plan.
The school piece was one of the biggest parts of the budget debate heading into the final vote.
The hearing came first, then the vote
The final council vote followed a public hearing on May 28, when residents had a chance to weigh in before adoption. City officials then moved the budget into place before the July 1 start of the new fiscal year.
For Yonkers residents, the next step is implementation. Tax bills, city department operations and school support will now move under the adopted plan. The bottom line: Yonkers landed below its original tax proposal, but local taxes are still rising, and education remains a major spending priority.
