BUFFALO, N.Y. (WKBW) -- Buffalo Mayor Sean Ryan has released his proposed fiscal year 2026-2027 budget, which includes a 25 percent property tax levy increase.
PROPOSED FISCAL YEAR 2026-2027 BUDGET
The proposed budget begins with a statement from Mayor Ryan, which says in part: "The budget before you represents a necessary shift for the City of Buffalo -- one that puts us on a path to fiscal stability and reliable services for the first time in a generation."
The statement continues, "In recent years, Buffalo has relied on a pattern of budgeting that masked underlying problems instead of solving them. The City has overestimated revenues and underestimated expenses, passing budgets that appeared balanced but ultimately required one-time resources to close gaps at the end of the fiscal year. Federal relief funds, reserves, and other temporary measures were used to paper over a growing structural imbalance rather than address it. That approach has caught up with us."
According to the mayor, the proposed budget includes approximately $681 million in total general fund expenditures, an increase from the $622 million 2025-2026 adopted budget.
Mayor Ryan has previously said, and echoed in his proposed budget, that the city must plug a $109 million budget deficit in the coming fiscal year. The mayor said that through more aggressive collections, in-rem foreclosure proceeds, anticipated state support, and other adjustments it is anticipated that the gap can be reduced to about $45 million.
To help close the $45 million gap, the mayor has proposed a 25 percent property tax levy increase.
"I do not make that proposal lightly," the mayor said in his statement. "I understand that any tax increase raises real concerns for families, particularly at a time when many are already feeling financial pressure. But it is important to be clear about the alternative. Without this step, we would be forced to make tens of millions of dollars in additional cuts to a City that is already operating at a bare minimum. That would mean fewer services, slower response times, and further deterioration of the infrastructure our residents depend on every day."
According to the mayor, the increase will amount to less than $25 per month for two-thirds of Buffalo homeowners and less than $15 per month for about one in five homeowners.
Ryan also said many residents don't take advantage of exemptions that would reduce the property tax burden, such as the STAR program, and the city will do what it can to educate residents about the value of the exemptions and how to sign up for them.
The mayor also claimed that residents will still have one of the lowest property tax burdens in the region. According to Ryan, with the proposed homestead tax rate of approximately $8.01 per $1,000 of assessed value, homeowners will pay less than half of what most neighboring municipalities charge.
Mayor Ryan will host a public town hall on April 21 to break down the proposed budget. The town hall will take place in the auditorium at the Central Library in Downtown Buffalo and will begin at 5:30 p.m.
MAYOR RYAN'S FOUR-YEAR FINANCIAL PLAN
As part of unveiling his proposed budget, Mayor Ryan also released a four-year financial plan.
"The plan continues the Administration's promise to use actual numbers for revenues and expenses, avoid relying on one-time revenue sources, and begin replenishing the City's reserves," Ryan said in statement. "Many unknowns will affect the City's finances in the coming years. While this plan makes assumptions in certain areas, the Administration has striven to utilize conservative numbers wherever possible."
As part of the four-year plan, in addition to the 25 percent property tax levy increase in Year 1, there will be a nine percent property tax levy increase in Year 2 and a five percent property tax levy increase in Year 3 and Year 4.