RIVER VALE, N.J.—A public hearing on a nearly $25 million municipal budget will be held Monday, June 8, at 7:30 p.m. at town hall, local officials told Pascack Press.
Township Administrator and Chief Finance Officer Gennaro Rotella said the estimated annual tax increase would be $211 for an average assessed home valued at $600,000.
He said increases in employee health benefits, insurance, and public library funding were reasons for the increase. Health benefit costs have increased between 25% and 35%, or more, for municipalities statewide enrolled in the state health benefits program.
A total tax levy of $16,290,035, including state-mandated costs for the public library, will be up for approval. The 2025 tax levy total was $15,066,614.
Overall, the proposed 2026 municipal budget totals $24,898,675, compared with the 2025 municipal budget total of $23,873,816.
Rotella said local officials were able to limit budget increases by trimming expenditures without reducing services. “Not an easy task,” said Rotella.
Property revaluation underway
As directed by the county Board of Taxation and state Division of Taxation, Rotella noted that the township recently began a township-wide property revaluation process for the 2027 tax year. He said the assessed values of local properties have dropped over the past several years and the town needs to return assessed values to 100% of fair market value.
He said letters notifying residential and commercial property owners are being mailed. “All properties will be physically inspected during the process. This is no different from any other town,” Rotella noted. The company handling local reassessments is Appraisal Systems Inc. of Glen Rock.
A notification letter shared by a resident with Pascack Press notes, “In the coming months, inspectors from Appraisal Systems Inc. will visit all properties, measuring and photographing the exteriors of all buildings and inspecting the interiors.” The letter is from Joanne Algor, township certified tax assessor, and Ernest DelGuercio, president of Appraisal Systems.
The letter notes that “contactless interior inspections using a video conference will be available at the request of the owner.” Call Appraisal Systems at 201-493-8530 or visit asinj.com for more information. For state Division of Taxation brochure “Understanding Revaluations,” visit here.