Final Budget Calls for Zero Increase on Taxpayer

After receiving a from Trenton, the Paramus Budget Committee set a goal to craft the 2012 municipal budget with a zero increase to the taxpayers. The budget, while was formally adopted recently and has shown that residents will be paying $10 less than they did in 2011.

The budget adoption had been delayed for months until new CFO Raymond Herr, who came from Westwood, was and given time to become acclimated to the much larger coffers he inherited.

Based on the approved $56.7 million budget, the average assessed home ($500,000) will contribute $2,565 towards the running of the borough's services for their property taxes. But to get to that point, the borough had to utilize $600,000 in surplus all while still facing a $1.3 million pension deferral payment.

According to Herr, between a 99.3% tax collection rate and department heads holding steady on expenses, the borough was able to craft a budget in which the amount to be raised by taxes dropped by $62,974.

While the 2011 budget of $56.6 million  and eliminated the jobs of five full-time workers; the new budget does not call for any layoffs and will instead offer employees a slight salary increase. 

Looking ahead to the 2013 budget year, Paramus will be facing contract negotiations with several parties and an unknown number of tax appeals.

Follow Patch on Facebook and Twitter or subscribe to our free daily newsletter.