MONTVALE—Montvale’s proposed $21.9 million 2023–2024 municipal budget shows a nearly 2% increase in property tax rates, costing an average homeowner an extra $62.05 yearly versus last year’s average $58.33 increase, said the borough administrator.
A final presentation and hearing will be held at the April 25 council meeting on the introduced $21,897,936 budget, said Borough Administrator Joseph Voytus. The 1.9% annual increase amounts to approximately $309,000 over the 2022 budget.
The 2023 amount to be raised by local taxation is $14,030,935, which includes $13,186,076 in municipal taxes and $844,859 in local library taxes, which are mandated by the state.
Voytus told Pascack Press the largest contributing factors were approximately $240,000 in employee benefits (pension and insurance), $325,000 attributable to the land purchase at 127 Summit Ave., and $160,000 increase in the cost of utilities.
He said, “We also had to contend with a drop in construction department revenue and increased capital costs for the Department of Public Works.”
The DPW is shared between River Vale and Montvale, the only shared-service DPW in the Pascack Valley.
Mayor Michael Ghassali, who also serves as Hillsdale’s full-time borough administrator, sent out an update noting, “Our insurance and retirement benefits increased by $240,000, utilities costs increased by $160,000, and the waste pickup increased by about 10%. We also made a conscious and calculated decision to purchase selected properties in town as part of a strategy to manage the tendency toward over-development in the borough. We purchased 127 Summit Ave. for $4.5 million and will be making an announcement shortly on another major property purchase.”
Ghassali added, “Despite these costs and investments, our municipal taxes continue to remain very stable with a healthy surplus. With the added ratables, our home values increased, our revenue increased, and our schools are now benefiting from over two million dollars more per year in tax revenue.”
Ghassali said he planned to hold a Facebook Live and Zoom meeting within days to announce “our next property purchase, its cost and our investment strategy” moving forward.
In other news, the council recently endorsed the Bergen County Commissioners’ recommendation to decrease the speed limit on Grand Avenue between Spring Valley Road and Chestnut Ridge Road to 40 mph from 45 mph.
As a result of “a series of accidents” on Grand Avenue, the county conducted a speed limit evaluation on Grand Avenue between Pascack Road and Chestnut Ridge Road.
As a result, they recommended that speeds be reduced between Spring Valley and Chestnut Ridge roads. The Shoppes at DePiero Farm and new offices, retail and residential buildings lie between the two streets where speeds will be lowered.
The county asked the council to pass a resolution in support of the lowered speed limit. The borough consulted with its engineer and police chief before approving the lowered speed limit on Grand Avenue, which is a county road.
The council approved the lowered limit unanimously 6-0 on March 14.