# Troy, NY city budget trends, 2018 to 2027: the facts, with sources

The plain-text version of https://budgets.carmellafortroy.com/trends for readers, search engines, and AI assistants. Every figure below comes from City of Troy, New York documents. Each source link opens the exact pages, copied from the city's PDF without changes.

- Figures checked against city documents on: 2026-10-11
- Covers: the City of Troy General Fund. Adopted budgets 2018 to 2026, the 2027 proposal, the audits' budget-and-actual pages for 2018 to 2024, and the city's 2025 report to the State Comptroller (not yet audited).
- Inflation: adjusted amounts use the US Bureau of Labor Statistics Consumer Price Index (CPI-U, US city average, yearly average) and are in 2025 dollars. Prices for 2026 and 2027 are not known yet, so those years are not adjusted.
- Machine-readable data: https://budgets.carmellafortroy.com/data/audit-budget-actual.csv, https://budgets.carmellafortroy.com/data/departments-adopted.csv, https://budgets.carmellafortroy.com/data/cpi.csv

## The budget grew $21.5 million since 2018

The General Fund budget was $73.6 million in 2018. The 2027 proposal is $95.1 million. Prices rose 28% from 2018 to 2025. So the 2025 budget was about 11% smaller than the 2018 budget after inflation. Part of that drop is garbage pickup, which left the General Fund in 2019.

What this means for you: after inflation, the city was spending less in 2025 than in 2018. The 2026 budget and the 2027 proposal add $10.7 million.

| Year | General Fund budget |
|---|---|
| 2018 | $73,649,045 |
| 2019 | $73,540,579 |
| 2020 | $74,740,743 |
| 2021 | $75,824,084 |
| 2022 | $78,746,500 |
| 2023 | $79,798,043 |
| 2024 | $82,110,895 |
| 2025 | $84,483,351 |
| 2026 | $89,460,323 |
| 2027 (proposed) | $95,136,330 |

Budgets from 2025 on were written by Mayor Mantello's administration. Source: the tax page of each budget ([2018](https://budgets.carmellafortroy.com/sources/tax-2018.pdf), [2019](https://budgets.carmellafortroy.com/sources/tax-2019.pdf), [2020](https://budgets.carmellafortroy.com/sources/tax-2020.pdf), [2021](https://budgets.carmellafortroy.com/sources/tax-2021.pdf), [2022](https://budgets.carmellafortroy.com/sources/tax-2022.pdf), [2023](https://budgets.carmellafortroy.com/sources/tax-2023.pdf), [2024](https://budgets.carmellafortroy.com/sources/tax-2024.pdf), [2025](https://budgets.carmellafortroy.com/sources/tax-2025.pdf), [2026](https://budgets.carmellafortroy.com/sources/tax-2026.pdf), [2027 proposal](https://budgets.carmellafortroy.com/sources/tax-2027.pdf)).

## The tax rate rose 22% since 2018. Taxable property grew 3%.

The total city property tax (the levy) grew from $24.6 million to $31.0 million. The value of taxable property barely moved, so the rate per $1,000 rose. Tax-exempt property grew from 46.0% to 47.0% of all assessed value. After inflation, the levy fell 7% from 2018 to 2025. For a home whose assessed value stayed the same, the 2025 tax rate was about 9% lower than 2018's in 2025 prices.

What this means for you: on a home assessed at $150,000, city tax was $2,094 in 2018. The 2027 proposal makes it $2,565.

| Year | Rate per $1,000 | Levy | Taxable value | Tax-exempt value |
|---|---|---|---|---|
| 2018 | $13.96 | $24,598,068 | $1,762,002,094 | $1,500,733,568 |
| 2019 | $14.16 | $25,138,173 | $1,774,994,712 | $1,503,738,454 |
| 2020 | $14.64 | $26,116,297 | $1,783,362,155 | $1,513,166,174 |
| 2021 | $14.88 | $26,734,209 | $1,796,231,819 | $1,516,134,069 |
| 2022 | $15.11 | $27,362,458 | $1,810,960,448 | $1,523,754,608 |
| 2023 | $15.43 | $27,818,898 | $1,802,331,917 | $1,533,191,050 |
| 2024 | $15.91 | $28,810,799 | $1,810,451,759 | $1,534,900,724 |
| 2025 | $16.22 | $29,421,145 | $1,814,431,618 | $1,547,398,640 |
| 2026 | $16.53 | $30,194,026 | $1,826,439,889 | $1,589,050,146 |
| 2027 (proposed) | $17.10 | $31,049,026 | $1,815,990,295 | $1,611,005,336 |

Source: the tax page of each budget, as above.

## Property and sales taxes grew $13.5 million since 2018. State aid grew $1.1 million.

State aid grew 8% from 2018 to 2027. Property taxes grew 28%, and sales and other local taxes grew 37%. Payments from the water, sewer, and garbage funds grew 78%. After inflation, state aid fell 26% from 2018 to 2025, and property and sales taxes fell 2%.

What this means for you: with state aid nearly flat, more of the cost falls on local taxes, fees, and water, sewer, and garbage bills.

Adopted General Fund revenue by source:

| Source | 2018 | 2025 | 2027 (proposed) |
|---|---|---|---|
| Property taxes, payments in place of taxes, and late penalties | $26,089,068 | $31,351,145 | $33,404,026 |
| Sales tax and other local taxes | $16,825,000 | $22,555,000 | $23,015,000 |
| State aid | $13,972,000 | $13,179,463 | $15,117,750 |
| Fees, permits, and fines | $10,892,500 | $9,966,500 | $12,846,500 |
| Payments from the water, sewer, and garbage funds | $3,922,971 | $4,475,832 | $6,965,503 |
| Interest, employee health payments, and other | $1,395,500 | $2,859,911 | $3,612,211 |
| Federal aid | $552,006 | $95,500 | $175,340 |
| Savings used to balance the budget | $0 | $0 | $0 |

- Until 2019, garbage fees came into the General Fund and counted as fees. In 2019 they moved to the new garbage fund.
- Federal relief money came from the American Rescue Plan Act (ARPA). Most of it came in through budget changes during the year, so the adopted budgets show little of it. The section on spending more than planned shows how much came in.
- In 2021 and 2022, the adopted budget planned to use savings to balance: $1,667,947 and $956,515.
- 2018 to 2024 use the audits' revenue groups. To match them, the sale of electricity counts as a fee, and repayments from federal task forces count as federal aid.

Source: the audits' original budget for [2018](https://budgets.carmellafortroy.com/sources/budget-actual-2018.pdf), [2019](https://budgets.carmellafortroy.com/sources/budget-actual-2019.pdf), [2020](https://budgets.carmellafortroy.com/sources/budget-actual-2020.pdf), [2021](https://budgets.carmellafortroy.com/sources/budget-actual-2021.pdf), [2022](https://budgets.carmellafortroy.com/sources/budget-actual-2022.pdf), [2023](https://budgets.carmellafortroy.com/sources/budget-actual-2023.pdf), and [2024](https://budgets.carmellafortroy.com/sources/budget-actual-2024.pdf), and the revenue pages of the [2025 adopted budget](https://budgets.carmellafortroy.com/sources/revenues-2025.pdf) and the [2027 proposal](https://budgets.carmellafortroy.com/sources/revenues-2027.pdf), which also lists 2026.

## Public safety accounts for $20.8 million of the $21.5 million growth since 2018

Public safety was half of the budget in 2018. In the 2027 proposal it is 61%. After inflation, public safety grew 6% from 2018 to 2025, and the rest of the budget shrank 27%.

What this means for you: about 3 of every 4 new dollars since 2018 went to public safety. Planning, debt, and streets got less than in 2018.

Adopted General Fund spending by area:

| Area | 2018 | 2025 | 2027 (proposed) |
|---|---|---|---|
| Public safety: police, fire, 911, code enforcement, traffic, and parking | $37,182,277 | $50,430,412 | $57,964,991 |
| City offices and administration | $10,032,747 | $12,239,908 | $13,561,297 |
| Retiree health, workers' comp, and unemployment | $7,327,277 | $7,704,794 | $8,883,737 |
| Debt payments and transfers to other funds | $8,880,772 | $6,088,101 | $6,335,935 |
| Parks, recreation, and youth | $2,175,067 | $3,380,830 | $3,546,151 |
| Streets, snow, and the marina | $3,570,034 | $3,118,144 | $3,510,162 |
| Planning and housing | $4,293,250 | $1,295,412 | $1,077,678 |
| Vital records | $187,621 | $225,750 | $256,379 |

- Until 2019, garbage pickup was paid from the General Fund and counted under planning and housing. In 2019 it moved to its own garbage fund.
- The budgets from 2023 on pay the city's debts through a transfer to a separate debt fund. The city began paying this way partway through 2022. Debt payments and transfers are shown together.
- City Court and the downtown marina first appear in 2022. Programs for the aging first appear in 2023.
- Retiree health and dental insurance were renamed in 2021. Their account numbers stayed the same, so they are matched.
- Troy MAC, the Municipal Assistance Corporation for the City of Troy, appears in the 2018 to 2022 budgets. The state set it up in 1995 to borrow money for Troy and watch over its finances. This line paid it back for office work it did for the city. Its last debt was paid in 2022, and it closed in 2023.
- The 2025 budget set 911 at $0. The city paid Rensselaer County for 911 that year.

Source: the audits' original budget for 2018 to 2024 (as above), the department summaries of the adopted budgets for [2019](https://budgets.carmellafortroy.com/sources/appropriations-2019.pdf), [2020](https://budgets.carmellafortroy.com/sources/appropriations-2020.pdf), [2021](https://budgets.carmellafortroy.com/sources/appropriations-2021.pdf), [2022](https://budgets.carmellafortroy.com/sources/appropriations-2022.pdf), [2023](https://budgets.carmellafortroy.com/sources/appropriations-2023.pdf), [2024](https://budgets.carmellafortroy.com/sources/appropriations-2024.pdf), [2025](https://budgets.carmellafortroy.com/sources/appropriations-2025.pdf), and [2026](https://budgets.carmellafortroy.com/sources/appropriations-2026.pdf), and the [2027 proposal](https://budgets.carmellafortroy.com/sources/appropriations-2027.pdf).

## The city spent more than planned on services in 4 of the last 5 years

Of the last 5 years, only 2022 came in under plan on city services. Revenue other than federal aid also came in above plan, so savings held steady. Services here do not count debt payments. Federal relief money passed through the budget from 2021, so it is shown in its own columns: it came in as federal aid and mostly left as transfers to other funds.

What this means for you: the adopted budget has fallen short of real spending in most recent years. Higher revenue covered the extra spending in each of those years except 2025.

| Year | Services, plan | Services, amended | Services, actual | Revenue without federal aid, plan | Revenue without federal aid, amended | Revenue without federal aid, actual | Federal aid, actual | Transfers out, actual | Change in savings |
|---|---|---|---|---|---|---|---|---|---|
| 2018 | $64,768,273 | $65,396,476 | $63,501,804 | $70,875,039 | $71,657,982 | $73,203,593 | $905,291 | $2,030,924 | +$1,329,921 |
| 2019 | $62,656,232 | $64,013,520 | $60,893,532 | $69,863,954 | $70,840,007 | $69,876,977 | $408,949 | $2,171,249 | +$118,723 |
| 2020 | $64,680,249 | $64,221,832 | $61,544,811 | $71,817,756 | $72,252,825 | $67,284,995 | $196,761 | $1,293,938 | −$508,334 |
| 2021 | $66,364,797 | $70,621,151 | $69,621,361 | $71,019,437 | $76,134,952 | $77,031,226 | $879,917 | $1,265,614 | +$144,270 |
| 2022 | $70,958,861 | $71,646,631 | $69,956,176 | $73,779,146 | $74,972,325 | $77,971,682 | $5,609,759 | $13,881,293 | +$609,833 |
| 2023 | $73,048,168 | $75,459,397 | $74,724,047 | $76,228,171 | $77,991,302 | $78,236,992 | $8,324,419 | $13,379,729 | −$619,361 |
| 2024 | $76,327,443 | $77,076,137 | $76,505,214 | $80,525,395 | $80,943,395 | $81,460,783 | $11,037,689 | $16,187,860 | +$870,177 |
| 2025 (not yet audited) | $78,395,250 | — | $80,052,534 | $82,912,851 | — | $84,119,264 | $8,133,644 | $12,923,306 | +$752,068 |

"Services" is spending without debt payments and transfers to other funds. "Plan" is the budget the Council adopted. "Amended" is the budget after the Council's changes during the year. The 2025 report does not give an amended budget. Source: the budget-and-actual page of each audit (2018 to 2024, as above) and, for 2025, the city's report to the State Comptroller ([revenue](https://budgets.carmellafortroy.com/sources/afr-2025-revenue.pdf), [spending](https://budgets.carmellafortroy.com/sources/afr-2025-spending.pdf)) and the [2025 adopted budget](https://budgets.carmellafortroy.com/sources/appropriations-2025.pdf).

## Total savings grew about $1 million since 2018

Total savings have stayed between $18.1 million and $19.5 million since 2018. Unassigned savings are the money the city can use in a bad year. They jumped in 2022 because a debt reserve was relabeled, not because the city saved more.

What this means for you: after inflation, the city's total savings are worth about 17% less than in 2018.

| Year end | Unassigned savings | Total savings |
|---|---|---|
| 2018 | $2,014,693 | $18,463,688 |
| 2019 | $3,017,123 | $18,582,411 |
| 2020 | $697,126 | $18,074,077 |
| 2021 | $4,059,475 | $18,218,347 |
| 2022 | $10,123,039 | $18,828,180 |
| 2023 | $9,447,133 | $18,208,819 |
| 2024 | $10,118,179 | $19,078,996 |
| 2025 (not yet audited) | $10,807,220 | $19,532,775 |

Earlier years and sources are on the main page's facts: https://budgets.carmellafortroy.com/facts.md

## Words used on this page

- Actual: what the city really took in or spent in a year, from its audit.
- Adopted budget: the budget the City Council votes to approve.
- Amended budget: the adopted budget, plus the changes the Council makes during the year.
- Not yet audited: figures the city reported but an outside auditor has not checked yet.
- Plan: the budget the Council adopted at the start of the year.
- Spending on city services: city spending, not counting debt payments or money moved to the city's other accounts.
- Transfers: money the General Fund moves to the city's other accounts. It pays off debt and pays for building and repair projects.
- Unassigned savings (fund balance): money left over from past years that is not set aside for anything specific.

## How the figures were read

The 2020 and 2022 audits are scans, and one 2022 department amount was unreadable in the city's file. Two separate readers read these from the page images, and their results matched. Every year's revenue and spending add up to its adopted total, and the 2019 to 2024 department totals match the audits' original budget area by area.