MOUNTAIN LAKES — The Mountain Lakes 2022 municipal budget, which was introduced on March 14 and likely will be adopted on April 11, calls for a 6.25% tax DECREASE. That’s the second year in a row with tax decreases in 2021 and 2022 totaling 7.7%!
“I am proud of this year’s budget, which proposes a tax decrease of over 6%. At the same time, we are providing relief for Borough taxpayers, we are making meaningful investments in our community, including more road paving and sidewalk work, improved recreational facilities, important public safety investments, and an expanded and renovated Borough Hall, Police Department, and Fire Department,” said Mayor Tom Menard.
Councilwoman Lauren Barnett said “With the Borough’s 2022 budget, Mountain Lakes municipal taxes have decreased 7.7% over the last two years. Some of the factors driving this decrease include new commercial and residential ratables, strong management and fiscal oversight, and moving to an annual property tax reassessment program, which is reducing tax appeals by helping ensure assessments are fair and accurate.”
You can download the budget presentation by clicking here.
Councilwoman Audrey Lane stated “Mountain Lakes residents have the fourth-highest tax bills in the state – which is something we are very aware of as we review the budget. The 2021 and 2022 budgets included sizable capital expenditures. While these investments in our facilities and equipment were needed, moving forward we will need to keep spending in check and make an effort to reduce spending so that we do not incur insurmountable debt. This level of spending is not sustainable over the long term.”
