Saratoga Springs, NY – Finance Commissioner JoAnne Kiernan is proposing a hiring freeze and a 6% tax increase over the next four years to address a projected $5 million deficit, city officials confirmed. The proposals, set to be presented to the Saratoga Springs City Council, aim to stabilize the city's finances amidst growing concerns about its budget.

Kiernan’s recommendations come as the city grapples with unexpected financial pressures. The $5 million deficit represents a significant challenge to the city's ability to maintain current services and address future needs. A hiring freeze would immediately reduce expenditures by halting new positions, while the phased tax increase is intended to provide a sustainable revenue stream over the long term.

The proposed 6% tax increase will be implemented gradually over four years, softening the impact on residents and businesses. Details on the specific breakdown of the increase across different tax categories, such as property taxes, are expected to be released alongside the full budget proposal. The City Council will review Kiernan's proposals and hold public hearings to gather community input before making a final decision.

The current fiscal year budget was approved earlier this year, but unforeseen circumstances and economic shifts have contributed to the emerging deficit. City officials have stated that they are committed to responsible fiscal management and exploring all available options to ensure the long-term financial health of Saratoga Springs. The proposals are expected to be a key topic of discussion at the next City Council meeting, where further details and public comment will be solicited.