Council Republicans who oppose the tax increase have pushed for the city to use some of the Legacy money, but Henry has repeatedly said he does not believe that money should go toward day-to-day operations.
"I was so adamant about not going into Legacy (money) that I didn't even look at the interest," Henry said, adding that he was still "very concerned about using Legacy for operating expenses."
Henry's administration also wants to keep the city's cash reserves, currently about $15 million, at a level that could fund 10 percent of the $140 million property tax-supported portion of the city budget in the case of an emergency.
The mayor's original 2013 budget proposal calls for the city to increase its total property tax collections by 2.8 percent, as allowed by the state, along with a "banked" 2.9 percent increase that was not collected for 2012.
The initial proposal would have increased the average homeowner's tax bill by about $25. Under the smaller increase, the average tax bill would go up by about $11, according to city Controller Pat Roller.