Common Council officially adopted the City of Ithaca 2010 budget with a unanimous vote Wednesday night.

The total budget is $58,431,727, with a tax rate of $12.31 per $1,000 of taxable property value.

The budget had to account for a $2.5 million shortfall, coming from huge drops in sales tax revenue, lost building permit revenue because of slowed construction, especially at Cornell University, increased debt service costs, and an unexpected $1 million in state pension increases.

The budget included no job cuts and 3.5 to 4 percent pay increases for all city staff, based on previously negotiated union contracts.

Buoyed by increased property values, the tax levy will rise 4.25 percent in 2010. The consumer price index for the 12-month period ending in September decreased 1.3 percent.