BUDGET FOR 2025 APPROVED AT SPECIAL LEGISLATIVE MEETING, AND INCLUDES SERVICE IMPROVEMENTS AND MAINTAINS FISCAL STABILITY
SEVENTH CONSECUTIVE PROPERTY TAX ON THE WAY, WITH 2025 RENSSELAER COUNTY BUDGET APPROVED, COUNTY EXECUTIVE STEVE MCLAUGHLIN ANNOUNCES
BUDGET INCLUDES 8 PERCENT COUNTY PROPERTY TAX RATE REDUCTION
BUDGET FOR 2025 APPROVED AT SPECIAL LEGISLATIVE MEETING, AND INCLUDES SERVICE IMPROVEMENTS AND MAINTAINS FISCAL STABILITY
Rensselaer County resident and taxpayers will see a seventh consecutive property tax rate reduction in 2025 thanks to a county budget approved on Wednesday, County Executive Steve McLaughlin announced.
The spending plan for next year approved by the County Legislature includes a county property tax rate reduction of 8 percent while also supporting service improvements and maintaining the county’s solid financial foundation.
“We are proud to again deliver a county property tax rate decrease and save residents and taxpayers more of their hard-earned money. Rensselaer County is becoming recognized as a leader across the state in reducing property taxes and this budget continues that progress,” said McLaughlin.
The budget was approved by a 15-2 vote at the special meeting for consideration of the budget on Wednesday.
“Thanks to county lawmakers for their support of this budget and for supporting our efforts to make Rensselaer County more affordable, more efficient and an outstanding place to live, work and invest,” he added.
Because of the seven consecutive budgets with property tax cuts introduced each year of McLaughlin’s service as County Executive, the county property tax rate is 45 percent lower. The county tax rate reduction for 2025 brings the county tax rate to a level comparable to what county taxpayers paid in the early 1990s.
During that same period, the county has comprehensively improved county offices and facilities. Since McLaughlin took office, the county has paved nearly 300 miles of county roads, opened two new senior centers with a third opening in days, modernized and improved county offices as part of the Reimagine Rensselaer County Facilities project and a new Emergency Services Training Complex.
“We are not just reducing property taxes, we are making county government more responsive, flexible and accessible. More and more are looking to Rensselaer County as a place to live, work and even start or expand a business, thanks in part to our work,” said McLaughlin.
“Much of this work to improve county facilities was done without large-scale bonding, with significant portions of the projects paid for from existing funds. The Reimagine Rensselaer County plan has also reduced our county’s reliance on expensive and uncertain leasing for office space,” he added.
“Since we took office in 2018, we have focused on rebuilding and improving our 330-mile network of county roads. With seven years of an unprecedented effort to improve roads, we have paved just under 300 miles of roads and ensures safe and efficient travel in all corners of the county,” continued McLaughlin.
The budget includes funds for future improvements and updates in the county. Work is set to begin on improvements and expansion of the Edward C. Swartz Senior Center in Schodack in the coming days. Work is planned for the modernization and improvement of county Highway Department garages.
The county is also continuing updates on the County Court House in downtown Troy. An update of the county’s nursing home, the Van Rensselaer Manor, is also planned. The VRM was opened nearly 30 years ago and has not seen a significant update since the opening.
The county has also funded important infrastructure improvements, utilizing ARPA funds, including extension of infrastructure on US 9 in Schodack, US 4 in North Greenbush and State Route 66 in Poestenkill. The county partnered with the City of Troy and provided $2 million in funding for the renovation of the Knickerbacker arena ice rink. ARPA funds were also used for town bridge projects in Sand Lake and Schodack.
The overall value of property in the county increased by $3.1 billion over the past two years, an indication that more are looking to the county to make investments and live and work. Sales tax revenues have also been strong as the county has earned strong bond ratings and positive reviews following independent audits.
The county has also shown strong performance in sales tax revenues as the tax base has expanded. During 2023, the county earned a record $124 million in sales tax revenues, up from $121 million in 2022 and $110 million in 2021. The county estimates sales tax revenues for 2024 will be approximately the same as 2023.