MAYOR PEREZ’S PROPOSED BUDGET

 INVESTS IN PUBLIC SAFETY, EDUCATION,

AND NEIGHBORHOOD ECONOMIC DEVELOPMENT

---NEWS RELEASE---

(April 16, 2007)--- Hartford Mayor Eddie A. Perez’s recommended 2007-2008 budget balances priority neighborhood initiatives while still being fiscally prudent and responsible with taxpayer dollars.  Mayor Perez is investing more city funds into Public Safety, Education, and Economic Development.  The proposal was delivered to the City and Town Clerk today--- on time and balanced down to the penny.

Mayor Perez says, “Hartford must continue to invest in itself.  When residents feel safer, more informed about the children receiving and achieving higher educational standards, and when they see the local business and job scene grow, this improves the quality of life all around for all people in all neighborhoods.  Putting more police officers on the street not only combats crime head-on, it helps prevent it.  Educating our children increases their earning potential for the future.  Empowering our residents through jobs and homeownership makes our city more vibrant.  A more vibrant city attracts more visitors.”

The Mayor’s Recommended Budget of $517,881,440 reflects an increase of $20,984,586, or 4.22%, over last year’s adopted budget.  Important elements of this budget include:

1.      80 new police officers:  The first class of 40 is designated for October of 2007 and the second class is set for April 2008.

2.      $374,529,728 is targeted for education. This includes 261,000,000 from the city plus federal grants, foundation money, etc.  The state’s full contribution is yet to be determined.

3.      The 2007-2017 Capital Improvement Program is $349,382,600 and includes the first year budget of $39,147,500.  This money goes to projects like school construction and renovation.

The funding formula to achieve these budgetary goals includes a combination of not filling current job vacancies and other departmental cutbacks as well as a property tax increase of 2.8 mills.  That translates to approximately $193 more per year for the average city homeowner.  At the same time, if a city resident owns the same car as last year, their property tax on their vehicle will most likely go down because of the mil rate decrease and depreciation in the car’s value.