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Mayor Ganim Announces City Council Approval For 2024-2025 Fiscal Year Budget

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May 13, 2024


This evening, Mayor Ganim and the Bridgeport City Council approved the  2024-2025 fiscal year general fund budget. The new budget highlights key points which are  regarded as vital to city government, as changes have been made to maintain the City’s fiscal  stability while tending to the needs of Bridgeport residents. 

Mayor Ganim stated, "It’s my pleasure to let Bridgeport residents know that we’ve passed  another successful budget. The budget for the new fiscal year continues to hold the line on taxes  while funding crucial areas of city government such as hiring 100 new police officers, providing  tax relief for seniors, and providing more funding for education. These budget plans are also  pushing the promise of improving the quality of life for our residents in areas like hosting  another year for our Household Bulk Pickup program and committing to road repairs. As we start  a new fiscal year in Bridgeport, I can assure that our residents will receive the services they  deserve while maintaining our City’s fiscal stability.” 

Many of the significant factors of the 2024-2025 fiscal year budget includes the mill rate not  being increased for the new fiscal year and is partnered by a major expansion for tax relief for  property owners who are seniors or disabled. Eligibility for seniors and disabled residents has  risen to $75,000 for yearly income with these communities now being able to receive up to  $1,300 in tax relief based upon their income level, significantly broadening the range of residents  who are able to receive this service. 

Significant resources will be placed into permit and inspection operations, which includes more  funding for fire marshals, health inspectors, and zoning inspectors. Resources will also be placed  in other divisions throughout Bridgeport as police personnel will receive funding for new classes

to promote increased community policing. These funds are also to be used to support the joint  initiative between Mayor Ganim and the Bridgeport Police Department to hire 100 new police  officers to the department. 

Another key factor to be taken from the new budget is the direct improvements to quality of life  the budget will provide. The Bridgeport Board of Education has received a significant raise in  funding from both the City and State, with City funding being increased by $3 million, totaling  to a $15 million increase over the last 6 years. This increase compliments the approximate $20  million increase in State funding throughout the last 6 years. The Capital Plan will further benefit  Bridgeport schools by improving school HVAC systems and will respectively provide more  street paving, fire and sanitation trucks, parks and golf course improvements, and funding aimed  at local economic development.

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