Ridgewood Taxes Projected to Soar, 'Tiger Team' Says
Citizen financial group recommends the village act – and quickly – to avert major budget woes that it believes will force residents out of town.
If the village can't get its fiscal house in order, property taxes will soar to more than $25,000 for the average resident in less than a decade's time, a volunteer finance team commissioned by the mayor reported Wednesday night. According to the finance group, known as "The Tiger Team," the genesis of the problem lies in the village's municipal budget. The municipal budget has increased 410 percent from $8.7 million to $44.5 million over the past three decades, Tiger Team member Bayard Demallie told the council. "If we do nothing, the average property tax bill in Ridgewood is expected to increase 60 percent from $15,606 in 2011 to over $25,000 in nine years," Demallie said. "The largest drivers of the budget growth have increased 78 …
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James Kleimann
12:22 am on Monday, February 4, 2013
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