JAMESTOWN – The Mayor of Jamestown’s proposed 2022 budget was released Thursday, and includes funding for 44 capital projects, creating seven new position and no tax increases.
Mayor Eddie Sundquist outlined his executive budget during a presentation at City Hall.
The $38.93 million spending plan increases appropriations by over $3 million, with Sundquist saying property tax values are expected to grow four percent next year continuing a trend of growth since 2019. Furthermore, the tax levy is staying the same at $23.69 per $1,000 of assessed property value.
Sundquist says in the revenues department, sales tax are coming in at “record levels” with a over 13 percent increase expected. The American Rescue Plan also plays a big part in drafting this budget, with $5 million in Lost Revenue Recovery money allocated.
At this point the Mayor says tax from cannabis sales are not included in the budget, but will likely bring in a good chuck of change for the city.
“However, we are estimating, conservatively, once those sales do begin and licenses are issued here in the city, we can expect anywhere from $700,000 to $1 Million in revenue just from cannabis sales alone,” said Sundquist.
The City Council will begin reviewing the budget on October 18. The lawmaking group is required to adopt a final plan by the end of November.
Residents can read the full budget plan online at jamestownny.gov/budget.