2 results for “fiscal challenge” · other
This 2013 fiscal profile of Syracuse by the New York State Comptroller's Office documents significant fiscal challenges facing the city, including nearly 50% tax-exempt property (compared to 32% statewide), 8% tax-delinquent properties, and 25.6% of families living in poverty—more than double the state average. As the fifth-largest city in New York with a population of 145,170, Syracuse has a debt of $292 million representing 52.9% of its constitutional debt limit (far exceeding the median city's 23%), and faces chronic budget gaps driven by declining population, deteriorating industrial sector, and growing fixed costs for both the city and its dependent school district. The city has established a Land Bank with Onondaga County to address abandoned properties and has exhausted 68.6% of its constitutional tax limit.
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