With the start of the new year, we also have the beginning of the new year for state spending.

Recently, New York State Governor Kathy Hochul released the first draft of the 2024-25 New York State Budget. That budget outlines what the Chief Executive of the Empire State feels the government should spend its money on.

So far, we know that New York is not planning on doing any major tax increases this year, which should make the average New Yorker pretty happy. But considering that the Empire State typically has the second highest state budget in the nation, it's important to have an understanding of exactly what our money is going to be spent on.

This budget makes it clear that fiscal discipline can co-exist with progressive, people-driven policies... I am committed to fight the right fights on behalf of New Yorkers, and to pursue the common good with common sense – by seeking common ground.
-Kathy Hochul, Governor of New York

So, exactly what is New York planning to spend $233 billion on?

Here's How New York Is Going To Spend Your Taxpayer Money

New York is going to spend quite a bit of money in the 2025 fiscal year (April 1, 2024, to March 31, 2025), and with spending increasing just under 5% from last year, many people are wondering exactly where their $233 billion is going to be spent.

Here are some highlights from the state budget:

Highlights from 2024-25 New York State Budget

On January 16, 2025, New York Governor Kathy Hochul released the first draft of the 2024-25 state budget. The State Budget, which can be revised by the New York State Legislature, is currently pegged at $233 billion.

Gallery Credit: Ed Nice

Now, it's up to the New York State Legislature to review and potentially amend the budget. The New York State Senate and New York State Assembly have the option to add or subtract from this initial budget before voting on the final version.

The 2025 fiscal year starts on April 1st, so there's work to do. You can read the entire 2024-25 Budget Briefing Book here.

The Top 10 Fastest Growing Cities in New York State

Another year means another round of residents either moving to or leaving the state. While New York is seeing quite a few people flee the state, the majority of them appear to be leaving New York City.

A report from the New York State Comptroller Thomas DiNapoli found NYC's population shrank by 5 percent since 2021.

The report also found that some of those city-dwellers relocated to towns just outside the Big Apple, which seems to be backed up by the latest Census data. In fact, 9 of the 10 cities with the fastest growing populations are within driving distance to NYC.

Gallery Credit: Megan

Best Places To Live In New York State

Niche is out with its best places to live in America list. Here are the 9 from New York State that cracked the top 80.

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