News Flash

Featured News

Posted on: June 17, 2022

City Reports Further Deficit Reduction

Poughkeepsie seal

Greatly aiding its effort to close a longstanding deficit in its general fund, the City has received an upfront $3 million payment connected to the recently completed sales tax agreement with Dutchess County and the City of Beacon.

The new 10-year agreement -- which governs the distribution of sales tax by the county to cities and towns -- was approved by the Poughkeepsie Common Council, the Beacon City Council, and the Dutchess County Legislature. The New York State Comptroller’s Office has now ratified the accord, freeing up the payment from the County to the City of Poughkeepsie.

The funds will further reduce the city’s general fund deficit to $2.8 million, a figure that stood at $13.2 million when Mayor Rolison took office in January of 2016.

Mayor Rob Rolison said, “Through judicious work and by means both big and small, we have been able to greatly reduce the city’s budget deficit and are working to eradicate it. I want to thank Dutchess County and City of Beacon officials for working to provide an equitable and fair distribution of sales tax revenue that will make a major difference to our communities over the next decade.”

Dutchess County Executive Marc Molinaro said, “The negotiations with the cities of Poughkeepsie and Beacon were extremely productive. The cities, towns, villages and county all needed to see a clear path regarding the sales tax formula, and we achieved that. I’m grateful to all who helped finalize this vital agreement.”

City Administrator Marc Nelson said, “The city has worked extremely hard to dig itself out of this deficit and stabilize city finances. This is the important work that will ultimately lead to a bond rating increase and will return the city’s credit rating to above investment grade. With interest rates rising sharply the city’s credit rating is the key to protecting our taxpayers from rising debt service costs.”

Under the new agreement, each of the cities will see a graduated increase in the percentage of sales tax received, with the City of Poughkeepsie increasing their percentage of sales tax collected from the current 4.59 percent to receiving 6.02 percent by 2030.  The City of Beacon will go from its current 2 percent to receiving 2.62 percent by 2030.   Local towns and villages will continue to share 9.5 percent of total county sales tax collected.  

Facebook Twitter Email

Other News in Featured News

Nelson and Rolison for website

Nelson to Become Mayor in 2023

Posted on: November 21, 2022
Celebreation of Lights Photo for the Web

Celebration of Lights Set For Dec. 2

Posted on: November 10, 2022
Youth Director Web Photo

City Names First Youth Services Director

Posted on: October 31, 2022
Buzz Logo This One

Check Out Latest Issue of The Buzz!

Posted on: January 19, 2022
Poughkeepsie seal

Mayor Releases Preliminary 2023 Budget

Posted on: October 17, 2022
photo for website

Soccer Mini Pitches Open at Pulaski Park

Posted on: October 11, 2022
PK4Keeps Vertical This One really

City Approves Comprehensive Plan

Posted on: September 7, 2022
Macolmn for Website this one

Malcolm X Park Upgrades to Start

Posted on: September 7, 2022
Latino Outreach Event

Latino Outreach Event Set For October 6

Posted on: September 26, 2022
9-11 2022 web

City Holds 9/11 Memorial Service

Posted on: September 9, 2022
L. Julee Molina Photo website this one

Bilingual Outreach Person Hired

Posted on: August 4, 2022
PK4Keeps Vertical This One really

Fourth Open House Set for 'PK4Keeps'

Posted on: August 11, 2022
fireworks

City to Host Fireworks on July 4th

Posted on: June 23, 2022
City of Poughkeepsie housing rainbow photo

City Releases Housing Needs Assessment

Posted on: February 28, 2022
photo x

Mayor Names Franco as New Fire Chief

Posted on: July 18, 2022
Poughkeepsie placeholder

Website Personalization Now Available!

Posted on: September 21, 2021
Rushing water

Create an Account

Posted on: September 21, 2021