Yonkers Raises City Income Tax To Help Fund $1B Budget

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Yonkers City legislators passed a $1 billion budget that included an income tax increase on Wednesday.
Yonkers City legislators passed a $1 billion budget that included an income tax increase on Wednesday. Photo Credit: File

YONKERS, N.Y. -- Yonkers lawmakers passed a nearly 12 percent hike in the city's income tax surcharge in an effort to fund a $1 billion budget on Wednesday, June 11, according to LoHud.com. 

The budget also includes a 1.8 percent increase in the property tax rate, which keeps the city within the state property tax cap, LoHud.com said. 

It was approved by a 6-1 vote, but 11 days after the budget deadline, LoHud.com reported. 

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Yonkers has what should be a good new source of tax revenue from Ridge Hill. Does the city receive a fair assessment from that large commercial property? or are taxpayers, homeowners carrying more than their share of a billion dollar budget?