Smithtown’s Finances Get Top Marks Again With AAA Rating

SMITHTOWN, NY — The Town of Smithtown has once again earned the highest possible credit rating from Moody’s Ratings, securing a AAA bond rating for its 2026 Public Improvement Serial Bonds, according to a town announcement that called the designation a sign of strong financial stewardship and long-term planning.

The reaffirmed AAA rating places Smithtown in the top tier of municipalities reviewed by Moody’s and signals confidence in the town’s financial condition, economic base and ability to manage future obligations.

“These are not abstract metrics… this is what responsible governance looks like in action,” said Supervisor Edward Wehrheim. “This AAA rating is a significant achievement for our Town and a direct reflection of the thoughtful, responsible decisions we’ve made on behalf of our residents. Earning and maintaining Moody’s highest rating speaks volumes about our commitment to fiscal integrity, smart planning, and delivering real value to taxpayers.”

Moody’s cited Smithtown's stable financial operations, a strong local economy, and responsible management of long-term liabilities, according to the town. The agency also pointed to the Town's manageable debt profile, stable reserves and consistent property values and income levels, which officials said remain in line with other top-rated municipalities across the country.

Moody’s also noted a projected $2.6 million operating surplus for fiscal year 2025, along with what officials described as a conservative and balanced approach to the 2026 budget.

"I want to extend my deepest gratitude to Paul Rubano and his exceptional team in the Comptroller’s Office for their unwavering dedication, meticulous financial stewardship, and commitment to keeping Smithtown on a path of strength and stability," Wehrheim said.

The town is using the rating to underscore what officials say is a broader strategy of pairing infrastructure investment with fiscal restraint.
The announcement highlights sewer improvements in key downtown corridors as an important piece of Smithtown’s long-term development plans

Town officials said the transition from older septic systems to modern sewer infrastructure in business districts in Kings Park, Smithtown and St. James has been a major factor in supporting economic stability, attracting private investment and reinforcing property values.

The town says it has been about 94.5 percent developed since the turn of the millennium, making targeted revitalization especially important as opportunities for large-scale new growth become more limited. In that context, officials said downtown improvements and infrastructure upgrades are intended to strengthen existing business districts and position the town for measured, long-term prosperity.

According to town officials, the AAA rating also helps Smithtown secure the most favorable financing possible for capital projects, allowing major improvements to move forward while limiting strain on taxpayers.

Officials said that includes investment in parks, open space preservation, roadway enhancements, stormwater infrastructure and environmental resiliency efforts.

The town said recent and ongoing park improvements, recreational facility upgrades and enhancements to community spaces are also part of its long-range strategy to improve quality of life and support nearby small businesses. Environmental investments, including drainage infrastructure, resiliency planning and protection of natural resources, were likewise highlighted as part of the town’s effort to preserve community character while preparing for future risks.

In addition to outlining its financial and infrastructure priorities, the announcement took a political turn, arguing that the reaffirmed rating serves as an independent rebuttal to criticism from opponents of the administration.

Town officials said the latest rating reflects more than a healthy balance sheet, describing it as evidence of a continued commitment to “balanced investment, disciplined fiscal management, and proactive-thinking leadership” even in changing economic conditions.

“Through careful planning and disciplined budgeting, the Town has advanced key infrastructure and downtown revitalization initiatives while maintaining strong financial stability,” Wehrheim said.