Albany County Executive Dan McCoy presented his $847 million executive budget proposal Monday.
“This is a great budget for the people of Albany County for the 11th straight year. No tax increase, decrease,” said McCoy.
McCoy, a Democrat, says while the budget marks a 3 percent increase over last year’s adopted budget, his proposal carries a property tax decrease. Under his plan, the effective rate will be reduced from $2.84 per $1,000 in assessed value to $2.73.
Ten years ago, the tax rate was $3.95.
The fourth-term Democrat credits the decrease to “being frugal,” including on prescription drug costs for employees. The county hired a firm to find savings.
“One of the things that we looked at was how we buy prescription drugs, right? Five years ago, and we're roughly like $19 million a year, and we brought in Health Insurance Solutions Incorporated, HISI, and it saved us nearly $6 million in the last two years in prescription drugs costs,” said McCoy.
McCoy anticipates HISI will save more than $4 million in 2025.
McCoy says the county is investing in its employees for recruitment and retention. Non-union positions are set to receive a 3 percent pay increase. Day care will be provided for the children of county employees who make up to $51,000. Those making between $51,000 and $83,000 will have a discount of 75 percent per child.
“We learned through COVID the amount of women we lost in the workforce, and to try to get them back, parents, look at how much daycare costs, we're taking care of that. Come work for the county, and you know, we'll take care of your daycare for you, which is huge, right?”
McCoy says Albany County is attracting companies. He touted investments in the technology sector and other major economic developments currently under way.
“Look at the what we have done already, from Plug Power to Regeneron to working with the Port of Coeymans and bringing companies in down there, Port of Albany. If you look at the green technology that we've been doing in wind power and being on the forefront all of that stuff, but look at Regeneron we just brought into Menands, and then again, we had some other announcements I can't make right now because we had to sign confidential agreements on a lot of this stuff. But Saint Rose project, if that goes well and we can get it for the right price, will help redevelop that. Central Warehouse. Al-Tech property in Watervliet, which is our biggest property, we're going to be putting on the market to look for some future announcements, which we will make. That has helped us,” said McCoy.
But while McCoy describes Albany County as a place that is attracting businesses and making critical investments, he points to the unfunded state mandates that account for 61 percent of the county budget.
“We can’t keep affording this. I'm not going to be able to hold the line on not a tax increase because of the unfunded mandates. And I want people to realize that. And they do give us funding for other programs, but these are their ideas. I pass a law, and we want to enact it. Guess what? I got to find the money, and I can't strip it from other programs. I can't cancel other programs and not raise taxes, so I got to be creative how I do stuff. I just wish our Senate and Assembly would do the same thing, our representatives here would do the same thing,” said McCoy.
McCoy's budget presentation comes weeks after he ultimately ruled out interest in serving as the Albany County Airport Authority CEO after reports that his former deputy county executive was forced out to pave the way for McCoy to take over.
