Mayor Simmons Presents Fiscal Year 2024 Proposed Budget

Information via city of Stamford

STAMFORD, CT — This week, Mayor Caroline Simmons presented the city of Stamford fiscal year 2023-2024 capital and operating budgets.

The total combined city and Stamford Board of Education expense budget and reserve for contingency is $654.7 million, a 3.7 percent increase from last year’s budget.

According to a news release from Simmons' office, budget priorities include "delivering a fiscally responsible budget that aims to ease the property tax burden on residents by mitigating the effects of the 2022 property revaluation."

This includes recommending holding the personal property and motor vehicle mill rates flat and a two-year phase in of the property revaluation.

The city’s capital budget proposes $91 million in capital project requests and prioritizes investments in roads, sidewalks and pedestrian safety projects; school facilities; parks and sustainability projects; public safety, health, and welfare; and housing.

Bond authorization for school facility projects were increased by about $28 million and the Mayor proposed to keep $20 million in reserve for these important school projects.

"This budget is a reflection of our values as a community and my vision to build a more inclusive, equitable, affordable and vibrant city where everyone can thrive," Simmons said in a news release.

"My administration is committed to doing what we can to ease the property tax burden on residents and invest in essential services and projects that will enhance quality of life across Stamford," she added. "I look forward to working with the Boards throughout this budget season to ensure we have a responsible budget that supports and invests in all Stamford residents."

The FY 2023-2024 department budget presentation calendars can be found below:

• Board of Finance
• Board of Representatives