Stamford News

Share & Bookmark, Press Enter to show all options, press Tab go to next option
Print

Mayor Simmons Presents FY2023-2024 City of Stamford Budget

Post Date:03/09/2023 2:59 PM

 

FOR IMMEDIATE RELEASE

City of Stamford

 

March 9, 2023

 

Contact:

Lauren Meyer

203-977-5115

LMeyer@stamfordct.gov

 

PRESS RELEASE: MAYOR CAROLINE SIMMONS PRESENTS FY2023-2024 CITY OF STAMFORD BUDGET  

STAMFORD, CT – This week, Mayor Caroline Simmons presented the City of Stamford FY2023-2024 capital and operating budgets. The total combined City and Board of Education expense budget and reserve for contingency is $654.7 million, a 3.7% increase from last year’s budget.

The Mayor’s budget priorities include delivering a fiscally responsible budget that aims to ease the property tax burden on residents by mitigating the effects of the 2022 property revaluation. This includes recommending holding the personal property and motor vehicle mill rates flat and a two-year phase in of the property revaluation.

The City’s capital budget proposes $91 million in capital project requests and prioritizes investments in roads, sidewalks, and pedestrian safety projects; school facilities; parks and sustainability projects; public safety, health, and welfare; and housing. Bond authorization for school facility projects were increased by about $28 million and the Mayor proposed to keep $20 million in reserve for these important school projects.

“This budget is a reflection of our values as a community and my vision to build a more inclusive, equitable, affordable, and vibrant City where everyone can thrive,” said Mayor Caroline Simmons. “My administration is committed to doing what we can to ease the property tax burden on residents and invest in essential services and projects that will enhance quality of life across Stamford. I look forward to working with the Boards throughout this budget season to ensure we have a responsible budget that supports and invests in all Stamford residents.”

The FY2023-2024 Department Budget Presentation calendars can be found below:

You can watch the full budget presentation here. Click here to view a budget fact sheet.

Return to full list >>