Published On June 22, 2022 » 787 Views»
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Just as most citizens of the U.S. are concerned about federal taxes – how much they have to pay – how equitable the taxes are – and where those taxes are being spent – so, too, are most residents of Teaneck concerned about our municipal taxes. Almost everyone wants them to be as low as possible consistent with the delivery of decent and adequate services.
The Teaneck Council just passed its eighth consecutive annual budget with a zero % increase on the municipal portion of the property tax rate.
This is an extraordinary feat. It is a popular move for many politicians, particularly in an election year. Residents are undoubtedly relieved.
But it raises a fundamental question, especially in a year with soaring inflation:
How does our Council get an annual 0% tax increase?
- Piling on Debt. Teaneck’s burden of debt has exploded. Rather than pay expenses from tax revenue, more and more money has been borrowed, with increasing interest. But eventually the piper must be paid. You or your children will be shackled with the growing obligation to pay back debt and interest while reducing the amount available for real services.
- Ignoring maintenance. Proper upkeep costs money. Ignoring it can create deterioration and blight. Much of the blight council is now declaring is on properties the Township owns and this blight is of their own creation. Our aging infrastructure is inadequate, increasing the areas flooded in storms.
- Reducing the number of first responders. Teaneck does not have the full number of first responders and equipment it needs to protect our own, putting residents’ safety and welfare at greater risk. Firefighting personnel is down 10% in the last decade.
- Holding down wages. The cost of living is currently rising two to three times faster than salaries for Teaneck employees.
Lowering effective Wages, Decreased Safety, Increased Blight, & Ballooning Debt. But a 0% tax increase.
Prudent fiscal management is to be applauded. But residents need to know how a flat budget with 0% tax increase is being achieved. And they must weigh the consequences against what is in their long-term best interests and the best interests of their children and future residents of this town.
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How has the desirable benefit of 0 % increase in the municipal portion of our property taxes been achieved? What expenses are being cut or short-changed? Which services may be affected? What is the expected impact on the future?
The Council has not adopted a user-friendly process of creating and explaining the Town Budget so residents can understand the answers to these important questions.
Teaneck Voices has criticized the process, while pointing to more informative approaches, and provided details on the Town debt in a previous issue.
