Verona property owners would be looking at a 9% tax increase if the borough’s proposed 2026 budget is passed.
Jason Dailey, the borough’s interim manager, presented a budget Nov. 25 that includes a 1-mill tax hike.
Revenues are predicted to fall a little over $2.5 million. Expenditures are projected to be almost $2.4 million.
The tax increase would bring the borough’s millage rate to 11.7 mills.
Larger expenses for the township would be almost $970,000 for police and around $250,000 dedicated to administration, Dailey said.
“Personnel and benefit costs continue to be our primary expenses,” Dailey said. “Our police officers, our public works employees and our office staff; those are our primary expenses throughout most of these departmental budgets.”
Administrative costs are projected to increase for the hiring of a full-time manager.
Public safety costs are also projected to increase with planned hires, vehicle and equipment costs. Dailey said the borough will have to consider police department expenses, including the hiring of a new sergeant and whether the borough will increase the police pay rate from $28.35 to $31.
“We have what’s called a blended rate because of the fact that the police contract, it actually changes halfway through the year,” Dailey said.
If the rates increase, officers will be paid their current rate through August.
While supportive of officers getting a raise, council expressed hesitance about raising the millage rate.
After listening to multiple residents’ opinions, council opted to advertise a budget with a tax hike to help bolster the borough’s police force.
Other big expenditures include more than $290,000 for public works and almost $450,000 toward solid waste management.
The largest revenue sources for the township are expected to be $1.15 million from real estate taxes and almost $415,000 from Local Tax Enabling Act taxes, including earned income taxes and real estate transfer taxes.
“We really only have around four primary areas that we get our revenue from, and we have to make it really stretch throughout the year,” Dailey said during a Nov. 11 budget presentation.
Other sources of revenue include a liquid fuels fund, grants and business permits.
Council will continue to discuss the budget and hear from residents until its final adoption scheduled for Dec. 9.
