Summit
Summit, NY · Business
spectrumlocalnews.com
City of Albany poised to borrow more money to cover expenses, including salaries
Cities across New York have been facing financial difficulties in recent years. One of them is the city of Albany, which received the worst stress score of any municipality by the state Comptroller’s Office in its annual report at the end of September. According to the Comptroller’s Office, the city has a projected deficit of $26 million for this year and $35 million for 2027.
New York Post
Expect Albany’s leaders to throw away its $8B Wall Street revenue windfall
Albany just got a windfall of $8 billion — get ready to watch the state’s leaders throw it away. Wall Street bonuses are soaring for a third straight year, not only producing an $8 billion surplus this year, but also slashing the coming year’s deficit by $6.4 billion to $2.9 billion, a gap the current overage can obviously cover. As state Budget Director Blake Washington noted Tuesday, “It’s hard to talk about new taxes when revenues are performing the way they are,” indicating that Gov. Kathy Hochul won’t be proposing tax hikes, but only “presenting a new favorable financial plan.” This explains Hochul ‘s comment to reporters at the Somos junket in Puerto Rico, namely that she’s open to new taxes “if there’s a need.” Where California Propositions stand as votes are tallied: Prop 40 wealth tax, home loan funds and more Of course, that doesn’t rule out a political need. She’s facing intense pressure from Mayor Zohran Mamdani to hike taxes, because for the socialists, the huge amount of taxes the rich already pay is never enough: They must be punished until they flee New York, taking this massive windfall with them. California voters overwhelmingly reject union-backed Prop. 44
altamontenterprise.com
WRGB
Indian Ladder Farms marks a century-plus with orchards, events and a modern twist
(WRGB) — More than a century after it first put down roots, and now a decade years since beginning the brewery, Indian Ladder Farms is still serving up a classic upstate experience, with a modern twist that goes well beyond the orchard. Indian Ladder Farms is a centennial farm...
altamontenterprise.com
WRGB
altamontenterprise.com
‘Bare bones’: Knox poised to raise taxes for first time in a decade, piercing state-set cap
KNOX — Supervisor Traci Delaney, drafting her first Knox budget, is faced with piercing the tax cap. “I went back 20 years with the tax collector and we could not find where taxes had been raised in the last 20 years,” Delaney told the town board on Nov. 4 when all four members of the board who were present voted to adopt a preliminary budget of 2027.