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Date: 5/23/2022
SPRINGFIELD – Mayor Domenic Sarno announced additional tax relief for the fiscal year 2023 (FY23) budget on May 12.
Devised by Sarno and Chief Administrative and Financial Officer TJ Plante, the initiative awards an additional $1 million to FY23 tax relief. Previously, the City Council approved $2.5 million for tax relief during November 29 and 30, 2021 meetings, bringing the proposed tax relief total to $3.5 million for FY23.
Initially, members of the City Council expressed that Sarno’s administration could award more funds for tax relief. City Councilor At-Large Tracye Whitfield proposed that the city doubles its tax relief to $5 million due to difficulties caused by the coronavirus pandemic.
“During the [coronavirus] pandemic, when people are losing their homes and losing their family, [citizens] can certainly use more of a tax break than what the mayor is proposing,” said Whitfield during the Nov. 29, 2021 meeting. Ultimately, the council approved the $2.5 million tax relief plan.
Sarno’s additional tax relief, which requires approval from the City Council before finalization, is a part of the city’s $63 million budget increase from fiscal year 2022 (FY22). Most of the increase stems from Chapter 70 State Aid awarded to support Springfield Public Schools, according to Sarno’s press release.
The mayor also announced a special home rule legislation that offers $1,000 property tax abatement to citizens under 65 who meet the maximum income and asset limits. Funding for the program will be earmarked in the MGM Springfield’s Community Development Fund, as outlined in their Community Host Agreement.
In his official statement, Sarno discussed the “delicate balancing act” between providing citizens relief and ensuring fiscal responsibilities.
“My administration is dedicated to providing this additional multi-faceted tax relief package for our residents while maintaining a respectful balance of being fiscal[ly] responsible. We do not want to provide short-term benefits at the expense of long-term investment where we would be forced to reduce services down the road,” said Sarno, who announced that the city formed the FY23 budget without using stabilization reserve funds for the eighth consecutive year.
Plante discussed the importance of ensuring reserve funds remain intact. “Saving our reserves for future years will allow the city to weather a protracted recession, and sends a strong message that the city is committed to fiscal sustainability,” said Plante.
Sarno’s tax relief plan will be discussed and voted on in a future City Council meeting.