CARMEL, NY – Yesterday, Putnam County Executive Kevin Byrne approved the 2027 County Budget which provides for a historic $6.5 million reduction in the County’s property tax levy; the largest property tax cut in County history. He approved many of the Legislature’s modifications to the budget while vetoing legislative amendments that could threaten the County’s long-term financial health or overstepped the Legislature’s authority.

“Putnam County taxpayers deserve meaningful relief, and this budget already delivers the largest property tax cut in our County’s history, by far,” said County Executive Byrne. “Our responsibility also extends to the families who will be paying these bills next year and the year after that. We can responsibly return $6.5 million to taxpayers while protecting the financial foundation that makes tax relief possible.”

He also approved the overall budget and its accompanying adoption resolutions. In his budget messages to the Legislature, Byrne warned that combining major increases in recurring spending with further reductions in reliable annual revenue could create growing deficits, jeopardize the County’s bond rating and force future tax increases.

Byrne cautioned that excessive reliance on reserves could also limit the County’s ability to continue other taxpayer relief initiatives, including sales tax sharing with towns and villages and efforts to make the clothing and footwear sales tax exemption permanent.

“Spending down savings in a rush to cover recurring expenses creates long-term financial obligations that taxpayers will ultimately be left to address,” Byrne said. “I will pursue tax cuts wherever we can responsibly afford them, but I will also use my veto authority to protect residents from decisions that jeopardize the County’s long-term financial health.”

Byrne pointed to fiscal challenges elsewhere in the Hudson Valley as reminders of the importance of responsible budgeting. Dutchess County began its 2027 budget process facing a nearly $90 million gap between projected costs and revenues, and its proposed spending plan includes an increase in the county sales tax rate. Rockland County’s earlier fiscal crisis in 2012 illustrated the dangers of unrealistic revenue assumptions and reliance on one-time revenues to support annual spending.

“We should learn from our neighbors’ experiences and heed financial warnings before a problem becomes a crisis,” Byrne said. “Putnam County is positioned to deliver historic tax relief today. Sound financial management will help us protect that progress.”

Putnam County continues to maintain a strong Aa1 bond rating from Moody’s, while Byrne seeks to position the County for a potential upgrade to the highest AAA rating. An improved rating could help reduce borrowing costs and secure more favorable interest rates on future debt, generating long-term savings for taxpayers.

Pursuing an upgrade is increasingly practical given Putnam County’s strong financial position and responsible fiscal management. According to the most recent audit (2025), the County maintains approximately $62 million in unassigned fund balance, providing flexibility to address unforeseen expenses and emerging priorities. This figure is distinct from other portions of the County’s overall fund balance that are assigned, committed, reserved, or restricted for specific purposes. Those funds are designated to meet existing obligations and plan for future needs and should not be conflated with unassigned reserves when evaluating the County’s available financial resources.

Byrne’s vetoes also protected the checks and balances established by the County Charter, rejecting amendments that sought to reorganize executive departments or direct administrative responsibilities through the budget process. Other vetoes address insufficiently justified personnel increases, duplicative funding and reductions that risked leaving the County without adequate funding for employee health benefits.

Byrne approved numerous legislative changes, including increased support for the Prevention Council and departmental adjustments justified during committee deliberations.

“I appreciate the work of our Finance team, department heads, County employees and legislators who offered thoughtful improvements,” Byrne said. “This budget delivers on our commitment to put taxpayers first: historic property tax relief, support for essential services and responsible planning for Putnam County’s future.”

###

See full budget approval/veto memo here:
https://putnamcountyny.gov/images/Departments/County_Exec/PDF_Documents/memo/26.11.9%20Memo%20To-%20Putnam%20County%20Legislature%20Re-%20FY2027%20Adopted%20Budget.pdf