Wayne Mayor Introduces 2015 Municipal Budget, Says Taxes May Slightly Increase

While introducing the 2015 Municipal Budget to the Township Council during the March 18 meeting, Wayne Mayor Chris Vergano said taxes may increase slightly for Wayne residents.

According to Mayor Vergano, the 2015 budget would call for a $22.79 tax increase for the average home valued at $228,242, noting that the increase is the lowest since the 1990’s.

The tax increase comes as a result of the Township having to make pension payments to the State of New Jersey.

“If we didn’t get hit with the pension payments, we’d be sitting here with zero tax increase,” Mayor Vergano said. But “that’s just not the case.”

Last year, the Township and its residents paid $4,640,475 to the stare pension and must pay $5,073,478 this year.

Mayor Vergano concluded by saying he is trying to keep the cost of living in Wayne down to a reasonable number.

The budget will now be reviewed by the Council, who can make recommendations for cuts, and may or may not be adopted during the May 6 public hearing, according to Township Clerk Paul Margiotta.