Yonkers adopts $1.64B budget, trims tax hike to 4.75%
Yonkers NY – The City Council unanimously adopted a $1.64 billion budget, trimming the proposed tax hike to 4.75% and adding $56.3 million for schools.
Yonkers City Council unanimously adopted the city’s FY2026-2027 budget on May 29, 2026, turning a $1.64 billion plan into the final spending package after hearings on May 19 and May 28.
The adopted budget lowers the proposed tax-rate increase from 5.25% to 4.75%. That is still an increase for property owners, but it is smaller than the rate city leaders initially put forward.
City officials say the plan preserves active municipal services and staffing levels. For residents, workers and local businesses, that means the city says core day-to-day operations will remain in place under the new budget.
The budget also includes $56.3 million in support for Yonkers Public Schools, a figure parents and school watchers will want to track as the fiscal year begins.
With the vote complete, Yonkers now has a final budget for the year ahead. The next questions are how the city carries out the plan and how the tax change affects property owners.
