The full value of property in White Plains dropped by 29 percent between 2008 and 2013, after more than doubling from 2002 to 2008. While cities statewide show slight recovery, White Plains may find dealing with the loss of so much property value a challenge in the future.

The City has paid down a significant amount of debt. This, along with the City’s substantial fund balance and a large tax margin, leave Watertown well positioned to cope with current and future fiscal challenges.

Utica has been in fiscal decline in recent years, relying on non-recurring revenues to fill budget gaps. Its new mayor has vowed to work with the City Council and OSC to ensure that the City remains in control of its own financial future.

The City of Syracuse faces many of the same challenges as other upstate cities. However, a larger than average percentage of its property tax base is either exempt or delinquent and growing fixed costs in the budgets of the City and the dependent school district have created chronic budget gaps.

Rye has strong public and private services, including an excellent school system, a vital retail shopping sector and recreational facilities that include parks, beaches, golf and yacht clubs, and nature centers.

The City of Rochester projects large and growing budget gaps in its 2013-14 through 2017-18 fiscal years. Absent significant spending cuts or increasing revenues, the gaps could cause the City to exhaust its available fund balance within the next two fiscal years.

The City of Plattsburgh has strong financial operations marked by operating surpluses in 2010 and 2011, modestly sized but growing and diverse tax base and healthy reserve levels. However, Plattsburgh’s high proportion of tax-exempt properties, weak socioeconomic measures due to a large student population and high debt burden are possible threats to the City’s financial condition.

Just as Niagara Falls seemed to be making headway in its financial struggles, a dispute between the Seneca Nation and the State of New York has resulted in the City losing as much as $60 million in revenue. The City’s 2013 executive budget proposal called for significant layoffs, program cutbacks, and property tax increases.

Between 2007 and 2012, the City’s available fund balance increased by 82 percent, from $3.8 million to $7.0 million in 2012. In 2012, Moody’s warned that rising employee benefit costs could put upward pressure on expenditures. Also, the State cap on growth in the property tax levy could affect the City’s ability to continue to balance its budget by increasing the property tax.

Gloversville faces significant fiscal challenges as it has nearly exhausted its constitutional taxing limit, severely limiting its flexibility to address unforeseen expenses and make ongoing infrastructure investments.