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Category: Finance

FY26 Budget Approved by the City Council with minor cuts

On June 23, the City Council convened in a Special meeting to review and vote on the Mayor’s proposed FY26 budget. I will have a clean version of the updated budget on the city website soon. In this phase of the budget process, the City Council can cut but can not add to the budget. The council made $148,838 … Continued

FY26 Budget Approved by City Council with minor cuts

From Mayor Joshua A. Garcia:  On June 23, the City Council convened in a Special meeting to review and vote on the Mayor’s proposed FY26 budget. I will have a clean version of the updated budget on the city website soon. In this phase of the budget process, the City Council can cut but can not add … Continued

Mayor’s Proposed FY26 City Budget

State of the City Address The public is invited to observe at the upcoming Special City Council Meeting scheduled for Tuesday, May 13, 6pm where I, Mayor Joshua A. Garcia, will be delivering the proposed FY26 City Budget and sharing the State of the City Address. Mayor’s Budget Narrative The proposed FY26 City of Holyoke budget reflects current revenue … Continued

Aggressive schedule to fully fund Retirement is driving high taxes

“Why are my taxes so high?” Fair question! There are about three budget busters driving your high taxes but there is one in particular I want to highlight. When it comes to your property tax there’s a little-known but very substantial contributing factor: the public employee pension appropriation. Unlike public safety, schools, or roads, the … Continued

Holyoke’s Municipal Finance Modernization Act presented to City Council

At an April City Council meeting an order was taken up and forwarded to appropriate committees (Charter and Rules Committee and Ordinance Committee) along with a 20 page document introducing a suite of changes to the city ordinances and city charter. These changes specifically aim to modernize and achieve efficiencies in how financial resources are managed. The … Continued

Standard & Poor (S&P) affirms Holyoke’s A+ rating

HOLYOKE — In an announcement welcomed by City officials, the Standard & Poor (S&P) rating agency has affirmed Holyoke’s A+ bond rating and given Holyoke high marks for its financial management policies. Click to review report.  S&P also assigned the City its “SP-1+” short-term rating for $32.2 million in bond anticipation notes (BANs). SP-1+ is … Continued

FY26 Budget Planning Process begins

The new budget preparation season is here! A memo to all departments with instructions for the FY26 budget planning process was distributed today. To review memo click here. While departments work on their first draft budget requests, just like in previous years, the Mayor will be connecting with City Councilors one-on-one to go over their objectives … Continued

FAQ: Special Election on January 28, 2025

FAQ: Special Election on January 28, 2025 On January 28, 2025, Holyoke voters will participate in a special election to decide whether the City Treasurer should continue to be an elected position or become a position appointed by the City Council. This document provides answers to common questions and explains the context and rationale behind … Continued

Shift factor determined, tax rate set

On Tuesday, December 17, the City Council voted on the shift factor that set the tax rate for residential and commercial properties. For the first time in years, favorable shifts were presented and concluded a significant reduction of tax rates for both residential and commercial properties. However, the average single-family home tax bill will still … Continued

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