One of the most important process improvements in the agreement involves the ability to increase the use of commercial title insurance in certain instances.
Jenkins blamed rising costs along with lower-than-expected sales tax revenue are the chief contributors to the significant budget gap the county is contending with.
“Home sales have struggled to gain traction, but prices continue to rise, contributing to record-high housing wealth,” said NAR Chief Economist Lawrence Yun.
Jenkins blamed rising costs along with lower-than-expected sales tax revenue are the chief contributors to the significant budget gap the county is contending with.
WHITE PLAINS—Westchester County Executive Ken Jenkins, who earlier this month released his proposed $605-million 2026 Westchester County Capital Budget, submitted his $2.5-billion 2026 Operating Budget to the County Board of Legislators on Nov. 7, that calls for an 8% cut by every department and the elimination of 180 positions.
The County Executive said his plan while eliminating positions will not entail any worker layoffs. Westchester County faces a staggering projected budget gap of $197.7 million, Mr. Jenkins stated. The proposed Operating Budget calls for a property tax levy increase of 5.27%, as allowed by New York State, which translates to an average annual impact of $60 for every $500,000 in assessed property value. It also proposed for the use of the full tax cap to allocate $4.5 million in support for sewer districts, ensuring critical infrastructure needs are met.
“This has been an extraordinarily difficult year, and the budget process reflected that. We are operating in a moment of unprecedented uncertainty driven by the Trump Administration’s decisions beyond our control,” he said. “Federal cuts, shifting aid formulas and tariffs have created instability in local planning in a way we have not seen in recent memory. There’s no way to sugarcoat it, this is simply the reality of this moment — and we are committed to leading through it with transparency, partnership and integrity.”
Jenkins blamed rising costs along with lower-than-expected sales tax revenue are the chief contributors to the significant budget gap the county is contending with. He cited massive increases in health care costs ($65 million), pension growth ($22 million) social services relief ($21 million); transportation and utilization for children with special needs ($10 million) and pension costs $8 million.
The 2026 proposed Operating Budget is based on flat sales tax revenue projections for 2026. In 2025, sales tax was originally budgeted to grow 3.5% over the 2024 forecast however, year-to-date collections through September 2025 are flat compared to 2024. The full-year 2025 forecast is now $943.5 million, $26.3 million below budget. For 2026, the county estimates $970.4 million in sales tax revenue, which represents a 2.8% increase over the revised 2025 forecast of $943.5 million, but is essentially flat when compared to the original 2025 budget projection of $969.8 million.
“People are not spending money because of the chaos and uncertainty coming out of Washington,” Jenkins said. “The instability created under Trump has seeped into Westchester County and is wreaking havoc on our finances—and we are not alone. Local governments across New York State and across the nation are confronting the very same pressures.”
The County Executive also pointed to the fiscal fallout from the decision by MGM not to pursue a full casino gaming license at its Empire City property in Yonkers. That decision represents an estimated $17 million in lost annual revenue for the county, not including the ripple effects across Westchester’s economy in the form of lost sales tax growth that would have followed, he noted.
One of the most important process improvements in the agreement involves the ability to increase the use of commercial title insurance in certain instances.
“Home sales have struggled to gain traction, but prices continue to rise, contributing to record-high housing wealth,” said NAR Chief Economist Lawrence Yun.
Technology continues to lead in private-sector job cuts as companies restructure amid AI integration, slower demand, and efficiency pressures.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) increased to 6.31% from 6.30%.
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