Binghamton 2026 budget takeaways: Taxes, housing, downtown changes
City of Binghamton Mayor Jared Kraham delivered his 2026 Binghamton budget address at City Hall on Sept. 15.
Kraham’s speech outlined how the city’s $111 million budget will be allocated, reflected on the progress made in 2025 and highlighted ongoing and future developments.
While there was a slight increase in 2025, 2026 will see a 0.1% decrease in the property tax rate for homeowners, as well as a 1.7% decrease in the non-homestead property tax rate.
Binghamton sees increased development, downtown revitalization in 2025
Throughout his address, Kraham highlighted recent developments throughout the City of Binghamton, including the city’s first youth recreation center, and VINES’ new headquarters.
“There’s new momentum in the neighborhood, one that mirrors the progress we’re seeing across Binghamton,” said Kraham. “A sense that — while our revitalization is far from over — the way things have always been is changing.”
Kraham also pointed to ongoing efforts to rid the city of blighted properties, a sentiment he has echoed throughout 2025. Kraham emphasized the repair of railroad bridges throughout Binghamton by railroad company Norfolk Southern, which will continue in 2026 with the Water Street and Brandywine Avenue bridge repairs.
A major downtown Binghamton parking garage, the State Street Garage, will be demolished before the end of 2025, with a surface parking lot replacing the garage following demolition. Kraham said while the lot will serve to meet parking needs for the near future, it also allows for further, non-parking development moving forward.
According to Kraham, Binghamton’s assessed property value will increase by over $10 million in 2026, the largest annual increase in the past 15 years.
Kraham highlights public safety in budget address
In 2026, the Binghamton Police Department will have a total budget of just over $16 million, with five new patrol cars added to the budget for the year. Kraham said more than 120 applicants will take a civil service exam to join the police department between Sept. 19-21, with the department on track to be fully staffed by the end of 2026.
The city will continue to focus on mental health response, Kraham said, with $100,000 allocated in 2026 to provide flexible funding for vehicles, gear and training.
The budget will also support the creation of a new City Attorney position to specifically provide support for the police and fire departments. The attorney will work with both departments as well as neighborhood groups to address vacant and condemned properties as well as problem property owners and ensure police officers are informed on best practices.
The Binghamton Fire Department will have a budget of $12.3 million in 2026, with $1.9 million allocated to replacing an outdated fire truck used by Station 2. New utility and hazmat trucks will be purchased, with $100,000 designated for turnout gear.
The city will continue to pursue a new fire station for Binghamton’s North Side neighborhood, originally announced in the 2025 budget.
Binghamton budget addresses housing, code enforcement and infrastructure
The city’s 2026 budget will fund a second code prosecutor position, as well as a paralegal position to assist code enforcement prosecutors. The creation of both positions will continue the city’s trend of cracking down on negligent landlords, with an additional $300,000 allocated to fight blight throughout the city.
Clinton Street, the site of many of the city’s iconic antique stores, will be receiving new lighting and landscaping to the tune of $6.1 million. On Binghamton’s South Side, $50,000 will be allocated for a revitalization study and action plan for the neighborhood’s Conklin Avenue corridor.
The budget will also create an additional position for litter and maintenance for Clinton and Main streets, as well as investments in a new garbage truck, street sweeper and snowplows.
In infrastructure, $10 million will go toward the city’s neighborhood street program, intended to improve roads, sidewalks and curbs, as well as replace aging water and sewer infrastructure throughout Binghamton. Areas of focus in 2026 will include Seminary Avenue, Dickinson Street and Lyon Street.
Chenango Street will be reconstructed through a $5 million project which will fix pavement conditions and add new sidewalks and lighting while also upgrading utilities to allow for development. Binghamton’s Memorial Bridge will also receive a makeover, with new lights, landscaping and safety improvements.
Binghamton will allocate $3 million toward the installation of a whole-plant generator system for the city’s water filtration plant, to allow for continuous water flow in the case of a power outage.
What budget has in store for parks, community development
Residents of the city’s First Ward neighborhood can look forward to the addition of a splash pad in the future, with studies outlining the best place and funding sources for the attraction planned for 2026. Throughout the city, after-school and other youth programs will receive $135,000 from the budget.
Future projects will also upgrade Webster Street Park’s basketball courts and install a new roof for the Recreation Park pool house.
Just under $700,000 will be provided for low-income residents to make home repairs and for young families to buy their first homes in 2026, with $212,000 allocated to support residents facing homelessness as well.
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