BCW Applauds Tax Levy Cut In Latimer’s Proposed Budget   

The release earlier this week of Westchester County Executive George Latimer’s Proposed Operating Budget for 2022 features a $2.2 billion spending plan that includes a $64 million surplus to address unforeseen events.

“The Business Council of Westchester appreciates the County Executive’s commitment to fiscal restraint as the nation and our county continue to recover from the pandemic downturn. We particularly applaud the County Executive for cutting the county property tax levy by $7 million in his 2022 proposed operating budget. This is the third year in a row that Latimer has cut the tax levy, an essential measure in helping our residents and business owners survive the past two years of crisis,” said BCW President and CEO Marsha Gordon.

Gordon noted that Latimer’s proposed 2022 budget embraces many recommendations suggested in the BCW’s Economic Recovery Task Force reports which was provided to him earlier this year, including funding workforce training and tourism, to which the proposed budget allocates $3 million each.

“Even more critical to our residents’ recovery is our recommendation for an increase to childcare for working parents, which the proposed budget expands to $5.6 million. Reliable, subsidized childcare is fundamental to ending the service-worker shortage that many of our local businesses are experiencing,” Gordon said.

Another longtime BCW goal is improving Westchester County’s credit rating. Fitch Ratings recently changed the negative outlook to stable on the county’s general obligation bonds, while citing the county’s ability to close budget gaps. This designation of a stable rating sends a strong message to the business community that Westchester County’s fiscal house is in order.

“As always, the BCW looks to working with the County Executive and his team to identify solutions to the challenges facing our region,” Gordon concluded.