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RIDGEWOOD A 4.3% municipal tax increase the highest in six years will get a final hearing at the Village Council meeting Wednesday.
The $52.9 million budget is up $1.9 million, or 3.9%, from last year. The amount to be raised from taxes is $37.7 million, up $1.6 million, or 4.43%.
On the average home, valued at $701,644, municipal taxes will be $4,544, up $186, or 4.3%, from 2020.
Municipal taxes account for 24% of the 2021 tax dollar. Schools account for 65.4% of local taxes, county taxes for 11.22%.
COVID-related expenses and lost revenue were cited by Chief Financial Officer Robert Rooney when the budget was presented April 14. Municipal tax increases over the previous six years have included two years of 0% increase and four years ranging from 1.2% to 2.2%
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