Mayor proposes tax increase

Niagara Falls residents will have a small tax increase in the new year fueled by a $4.1 million increase in spending proposed by Mayor Robert Restaino.

A home assessed at $75,000 would see a tax increase of about $43.50. Given the current 43% equalization rate, a home assessed at $75,000 would have a full market value of $166,666.

The city has not reassessed properties since 1994.

Capital budget spending in the proposed plan would be about $34.5 million an amount Restaino attributed to contractually obligated pay raises and increases in benefits and contribution to state retirement plans and health insurance.

Non-homestead taxes will decrease about 1% or about $485 on a $250,000 assessment. The city’s commercial tax base is decreasing as industry fades and New York State continues to pay nothing for its waterfront as well as sharing no tourist revenue.

City Council members previously rejected a proposed increase to the city’s 2027 fiscal year refuse and recycling user fee. The proposal would have raised a single-cart residential user’s rate by $2.18 per year, a 1.2% hike. The increase would have affected 80% of city residents.

The capital budget calls for $17.8 million in streets and paving projects. Among the projects are the Main Street redevelopment corridor, rebuilding 87th Street from Buffalo Avenue to North Military Road and repaving of Chilton and Royal avenues.

It also calls for $3.17 million in improvements to buildings, including repaired elevators at the city library and Rainbow Parking Ramp. Streetscape work on Main Street and Buffalo Avenue is targeted at a cost of $8.1 million.

The proposed capital budget includes $2.1 million in equipment upgrades in the Department of Public Works and $3 million for the police and fire departments for “equipment and vehicles” and firehouse renovations.

At 6 p.m. Wednesday, the council will host its regular meeting. Among the agenda items are a previously considered change order for as well as a resolution to create a Local Development Corporation which would oversee the Mayor’s proposed $250 million multi-purpose event center.

The LDC would be an entity operating separately from city government with the ability to borrow money and fund construction and operating expenses.