Bloomfield Homeowners May Face Tax Increase Under Town Budget

BLOOMFIELD, NJ — The Bloomfield Town Council voted to introduce the 2023 municipal budget at their public meeting last week.

The $99.18 million spending plan would mean a municipal tax increase of $75 to the average Bloomfield property valued at $354,230, a township spokesperson told Patch. That total includes the library and municipal open space levies.

The proposed budget will face further review and a public hearing before a final vote from the council.

According to town officials, the largest cost drivers this year include:

• Health and other insurance increases
• Increased utilities costs
• Garbage and trash removal contractual increases
• Increase in police and fire pension system obligations

Officials said some other factors in this year's budget plan include:

• "State aid has remained at 100% of funding"
• "We continue to replenish our surplus/fund balance, which allows us to be prepared for unexpected changes in the future"
• "We have been able to retain a 'high grade' credit rating, which allows us to borrow at favorable rates, which helps to keep our debt service payments reasonable"

"We always work to offset an increase in appropriations with additional revenues (increased within an existing category or finding new sources of revenue)," a township spokesperson said. "We have been able to see increases in both of these categories so that we aren’t passing 100% of the increase on to the taxpayer."

The council also voted to approve an ordinance to exceed the municipal budget appropriation limits and establish a cap bank at their April 17 meeting. Watch the video here or see it below, via WBMA TV.

A public hearing on the town budget is scheduled for May 22. Council meetings are held at 7 p.m. in Council Chambers on second floor of the Municipal Building, 1 Municipal Plaza.

• See Related: Average Property Tax Bill In Bloomfield Is Growing, Latest Data Shows
• See Related: Town Council Approves Budget For Bloomfield Center Alliance

TAXES IN BLOOMFIELD

Property taxes in New Jersey are made up of three parts: school, municipal and county. Here’s how that played out in Bloomfield last year:

• School – 47%
• Municipal – 38%
• County – 15%

The Bloomfield Board of Education heard a budget presentation from Superintendent Salvatore Goncalves at their March 20 meeting. The district has also posted information about the proposed spending plan online; it can be seen here.

If it gets final approval, the 2023-2024 school budget would mean a 2 percent tax levy increase for Bloomfield property owners. That would come out to a $30 tax increase per $100,000 of assessed value, according to district administrators.

• See Related: Proposed Bloomfield School Budget Has Tax Increase

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