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County eyes 19.2% tax hike
Albany County revenues tumble; chairman hopes to trim budget increase
By TIM O'BRIEN Staff writer
Updated 12:23 a.m., Friday, October 7, 2011

County Executive Michael Breslin's final budget calls for a 19.2 percent property tax increase, nearly 10 times the state's new 2 percent tax cap.

Breslin said he had no choice but to seek a large increase due to large drops in revenue and increases in costs. The spending plan would require legislators to override the tax cap as they head into an election year.

Breslin is not seeking a new term. County Legislature Chairman Daniel McCoy is running for county executive but he is unopposed.

"This is a very difficult year not only for government, but for people and for businesses," Breslin said.

The $565 million budget is up $4.36 million over 2011, a 0.78 percent increase.

Breslin said the county has been operating with a $17.4 million structural deficit and this budget will balance the books. In addition, the county saw Medicaid costs rise $6.5 million this year, health care costs are up $1 million and pension costs rose 12 percent to $14.8 million.

Since 2009, the county has lost $17.6 million in sales tax revenue. Its interest on investments has dwindled from $6.8 million in 2007 to less than $100,000 now.

"As we began this budget, we were $28 million in the hole," Breslin said.

He also said he would not recommend taking any more money out of the county's reserves. Only $19 million is left.

"We have in the past used our rainy day funds because it was raining but now it hasn't stopped raining," he said. "It is not fiscally the right thing to do. The only appropriate thing to do is raise revenues, raise taxes."............................>>>>................................>>>>..........................Read more: http://www.timesunion.com/local/article/County-eyes-19-2-tax-hike-2205610.php#ixzz1a7Yq1qG5

wowzers

put a fork in 'em.......it was always a joke and our legislative lawyer leaders F'ED us all.....for some gumbas and votes........

occupy wall street.......hahahahahahahahahahahaha.....that's only 1/8 of the problem......