Yonkers Mayor Mike Spano unveiled his proposed Fiscal Year 2027 Executive Budget on Monday.

The budget contains no cuts to municipal services or active workforce and maintains historic funding to Yonkers Public Schools.

The total budget for the city and the Yonkers School District is $1.57 billion.

"...Because of the loss of federal dollars, around $60 million of federal funding that is no longer available to the city, there is some restructuring that is going to have to take place," said Spano.

For the past three years, Spano says the funding was used to fill in gaps within the Board of Education for teachers, programs, and more.

"...Pension costs, health care, special ed., transportation. Those numbers are driving our numbers insane," he said.

The mayor says they're waiting to find out how much aid they'll be receiving from the state.

The Yonkers City Council will now begin reviewing the budget.

"We don't make this decision lightly, and we will go through this budget with a fine-tooth comb looking for any possible savings to avoid having to impose such a high tax increase," said Yonkers City Council President Lakisha Collins-Bellamy.

If passed, a typical family at the median assessed value of $10,900 would see their annual property tax bill increase by $551, or around $45.91 per month.

Many Yonkers residents expressed mixed reactions.

"It's a difficult time for all of us economically, but I'm trusting my legislators right now that they aren't going to propose things that aren't important and necessary. I would support that increase," said Yonkers resident Ed Joseph.

"I'd like to see a budget that is not going to hurt the pockets of folks that are already hurting," said Dennis Richmond Jr., whose family lives in Yonkers.

The budget also calls for a 3.17% increase for the city's water and sewage rates.

The Yonkers City Council must adopt a budget by July 1.