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– Seek to adjust the tax rates for some properties
The Mayor and City Council (M&CC) yesterday submitted a $3.297 billion budget for 2024, a significant increase from last year and a funding deficit.
The budget, themed “Building a Green, Resilient, Safe and Sustainable City,” was proposed by Finance Committee Chairman Lelon Saul and passed by the 30-member council after being criticized for weeks of delays.
The budget is funded mainly by rates and taxes, which are expected to total more than $2.2 billion. Other sources of revenue include $329 million from markets, $321.9 million from container fees and $358.8 million from other fees. A $30 million grant from the central government is also included.
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