News Flash


Posted on: October 7, 2022

Mayor Madden Releases Proposed 2023 City Budget

FY-2023 budget proposal is under the NYS Property Tax Cap for 6th consecutive year and administration’s 7th overall balanced budget since 2016

Forward-looking budget recognizes the uncertainties of the economic climate while taking steps to prepare for what potentially lies ahead. The budget maintains operations and services, and it strategically invests in key areas to improve offerings to support the continued revitalization of Troy’s neighborhoods.

$79.8M spending plan proposes a modest 1.98% increase for 2023, with an average monthly increase of $3.73

TROY, NY (October 7, 2022) –Mayor Patrick Madden today announced the release of the proposed 2023 City Budget, his administration’s 7th balanced budget proposal which aims to improve municipal operations and services, invest in the city’s infrastructure and facilities, and support neighborhood revitalization across the Collar City.

The $79.8M spending plan proposes a 1.98% property tax increase for the upcoming 2023 fiscal year, with an average monthly increase of $3.73 for homeowners with a home valued at $150,000. For the 6th consecutive year, the Collar City’s annual budget proposal is below the New York State Property Tax Cap. The proposal is available at

Mayor Madden said, “Today, we are confronted with changes in the global and national economies that have begun building substantial headwinds against municipal finances. Recognizing that our taxpayers are plagued with the same inflationary pressures, we have committed to a budget that does not exceed the State’s tax cap.  Our proposal is another fiscally responsible plan that achieves that goal. I look forward to engaging with the City Council to pass this budget proposal with bipartisan support.”


This budget takes strategic steps to minimize the probable economic stresses over the next two to three budget cycles.  To that end we are proposing as follows: 

  • Temporarily reduce vacant positions, 
  • Adopt a conservative stance (without being shortsighted) on capital expenditures by limiting new debt to the greatest degree possible, 
  • No deferral of the City’s annual employee pension contributions, and 
  • Appropriate American Rescue Plan (ARPA) funds in the amount of $2,000,000.

The City will continue a procedure started last year to finance the purchase of new police vehicles from the General Fund. The direct purchase of police vehicles was a recommendation of the NYS Comptroller’s Office and consistent with best practices recognized by the City’s credit rating agencies.

The budget proposal’s 2023 Capital Plan includes investments in various city-owned facilities, parks, and critical infrastructure projects. Highlights include: 

  • Purchase of new emergency vehicles for the Troy Fire Department, including a rescue pumper unit, new ambulance (the fourth new ambulance since 2017) an investment of more than $1 million.
  • Purchase of a new garbage truck (Department of Sanitation) and a new street sweeper (Department of Streets).
  • $1 million in anticipation of the Little Italy Market Place to transform a vacant brownfield lot into a contemporary Italian piazza for civic programming.
  • Facility upgrades to the water plant first constructed in 1963. Concrete and equipment that have been submerged for the last sixty years will be replaced to ensure the safety and continuity of the water supply.
  • Investment in the first phase of a traffic light replacement program.
  • $1.5M for a lead service line replacement program to protect public health and reduce exposure to lead in drinking water.

The 2023 Capital Plan also accounts for necessary costs associated with Phase 2 of the Tomhannock Water Transmission Line project (2023) to replace century old water lines between the Tomhannock Reservoir and the Water Treatment Plant, and continues plans for the $7.5M replacement of Fire Station #1 in Troy’s Lansingburgh neighborhood.

Solid Waste Management

Several approaches to implementing a city-wide, city-issued barrel program have been discussed at public workshops. While plans for a multi-sized barrel program will not move forward at this time, the administration will propose to expand the City barrel program to residential structures not currently in the program.

The FY-2023 budget proposal includes an increase of $33 to the annual solid waste management fee. Based on outreach to local companies, the annual solid waste management fee is below that of private haulers. The proposed fee also maintains the exemption for senior citizens with enhanced STAR.

“I have seen and heard from residents on the inequity created by not having a citywide garbage barrel program,” Mayor Madden explained. “We look forward to working with the Council to create a program that will ensure that all residents in the municipal waste program are provided a barrel.”

Water and Sewer Funds

The FY-2023 budget proposal includes a water rate increase of $0.40 / 1,000 gallons, and no change to the sewer rate. This increase amounts to about $5.00 per quarter for the average family of four.

“This is the result of two factors: the general fixed cost increases we are seeing in areas such pension, healthcare, insurance, and energy as well as astronomical increases in the cost of chemicals used in the treatment of our water,” Mayor Madden continued. “My thanks go to the Deputy Mayor, City Comptroller, department heads and various department-level staff in rising to the unique challenges presented this year to develop this budget proposal.”


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