$63.4M Budget Approved In Summit As Taxes Rise 2.9 Percent

SUMMIT, NJ — A $63.4 million municipal budget for 2026 has been approved in Summit, marking a 3.5 percent increase in city spending as officials point to rising statewide costs driving the increase.

The Summit Common Council approved the budget unanimously, with the plan increasing spending by about $2.1 million compared to the previous year, according to city officials.

For the average home assessed at $445,000, the municipal portion of the property tax bill will increase by about $162. The overall municipal tax rate is projected to rise by 2.9 percent, down from an earlier estimate of 5.3 percent.

City Administrator Tammy Baldwin said municipalities across New Jersey have been dealing with widespread cost increases this year, particularly in employee benefits.

“Health insurance costs for both the city and the employees here rose dramatically, about 34 percent,” Baldwin said.

She also noted increases in pension obligations, liability insurance and utility costs as key factors contributing to the budget.

Despite the higher costs, Baldwin said the city maintained its financial stability, including a AAA bond rating from all three major rating agencies and continued low net debt levels.

Councilmember Bob Pawlowski said he supported the budget but noted concern over long-term infrastructure needs, including city facilities and road conditions.