Rensselaer County Executive Steve McLaughlin on Tuesday proposed a $453 million budget for 2027 that would reduce the property tax rate by 6.84% to $3.01 per $1,000 of assessed property value from $3.22 in 2026.
It’s the ninth year in a row the Republican has submitted a budget with a tax rate decrease. He said the prior eight decreased the tax rate by a combined 49% from 2018, when it was $5.85 per $1,000. McLaughlin said next year’s projected tax cut is perhaps most noteworthy given the financial challenges facing surrounding municipalities.
“The condition and operation of county government has been dramatically improved at every level, while the cost to residents and taxpayers has been reduced significantly,” he added.
McLaughlin ticked off several benchmarks in his budget presentation.
He projects an overall tax levy of $63 million in 2027, down $1.4 million from the $64.4 million county levy that existed in 2018. He said the county’s total property value will grow to $20.9 million from $11 million during the same nine-year time period, and sales tax revenues will top $130 million compared to $89 million in 2018.
But driving costs are unfunded expenses from the state, which McLaughlin said have skyrocked to record levels over the past five years to a projected $191 million next year from $155 million in 2023.