I'm writing to you today to address the disinformation that has appeared on social media regarding the 2025 Village of Ridgewood Budget.
Here are the facts.
- This year's municipal tax increase is slightly over 3%.
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The Village added more than $200 million in new property assessments this year over last. The majority of the increase is due to The Valley Hospital property being added to the tax rolls.
- Prior to its move to Paramus in 2024, The Valley Hospital, as a nonprofit hospital, was exempt from property taxes. Since the move, the former hospital, located on Linwood Avenue, is now subject to property tax.
It has been suggested in certain social media posts that, as a result of the added assessments of $200 million, the increase in property taxes far exceeds 3.14% This is simply not true.
I understand that, as taxpayers, you are looking at the bottom line.
Here it is: In 2024, municipal taxes on the average home of $710,168 were $4,760.84. This year, they will be $4,910.47 - a difference of $149.63 - just over 3%.
These are the facts and the math surrounding the 2025 Village of Ridgewood Budget. If you have any questions, please don't hesitate to reach out to my office.
