HACKENSACK, N.J. — The City has introduced its 2019 Municipal Budget, which will see a 0 percent tax levy increase - a measure the Mayor and Council plans to maintain over the next five years.
The City’s projected tax rate is also going down (from 1.629 to 1.585) for the fourth year in a row according to a presentation by Chief Financial Officer Jim Mangin at this week’s council meeting. The average taxpayer’s total tax bill is expected to be $8,223.87, which is a $150.69 decrease from last year. Of that $150.69 decrease, $120.08 is because of the 2019 municipal budget. The city’s total budget is $106,763,379 which is a 1.45 percent increase over last year.
“Prior to our administration, tax rates in Hackensack would fluctuate up and down but our main goal was to bring more stability, which we have done, and now our main goal is maintain the current tax levy with no increase for five budget years,” Hackensack Mayor John Labrosse said. “Another plus is that right now property values are going up and they will continue to go up with the redevelopment.”
Deputy Mayor Kathleen Canestrino, who along with Councilman Leo Battaglia, is on the Finance Committee which worked on the budget, praised the city’s department heads for their contributions in keeping the budget’s increases to a minimum.
“A lot of blood, sweat and tears goes into analyzing these numbers and making smart decisions for the city and it shows,” Deputy Mayor Canestrino said. “We continue to have both short and longterm plans. That’s what’s been so critical to our financial success.”
“Not having a tax increase is huge to a lot of senior citizens and individuals on a fixed income,” Deputy Mayor David Sims added.
A public hearing will be held on April 23 at which time the Council is expected to vote on adoption of the budget.