Cardone breaks down the budget, tax cap constraints

In July, New York State Comptroller Tom DiNapoli’s office announced that local governments across the state can raise their property tax cap levies to 2% for the 2024 fiscal year. The 2% figure represents the maximum amount, which can only be exceeded in specific, limited circumstances. The tax cap has been on the books since 2012 and, until recently, municipalities across the state have not had many issues staying under it. That is, until inflation and corporate price gouging became too much to bear in recent years. So, during the November 20 Monroe Town Board meeting, Supervisor Tony Cardone took the opportunity to discuss next year’s budget, as well as the politics around the property tax discussion both here and across the state.

The discussion occurred because Supervisor Cardone and other town board members expressed concerns about the discourse taking place on social media. Cardone stressed he had to get this information out there because of the “constant lies on social media about the cost of everything going up.”

During his presentation, Cardone stated that revenues were “extremely tight this year” and that the board and the town departments have done their best to cut and minimize expenses whenever possible. For 2024, almost a $1 million will be added to the A fund, B fund, and general fund balance.

“Traditionally we don’t like to do that. That’s a lot to add, but when you look at this year versus last year when the appropriation last year was $9.7 million and this year it’s $11.2 million and change, it had to be adjusted somehow.”

Cardone emphasized that none of these fund balance increases will be used to cover the land involved in the Rye Hill corridor. That is a separate expense that is covered by the town’s parkland fees. “That’s what parkland fees are for: to purchase land or add capital,” said Cardone. The supervisor then displayed a graph to demonstrate that from 2018 to 2024, a home in the village of Monroe, assessed at $100,000, was paying $724.72 back in 2018. In 2024 they are paying $733.80. A home assessed at the same value located in the town in 2018 was paying $1,161.52, and in 2024 is paying $1,160.61, meaning the property taxes paid on the home in town went down by almost a dollar, while the property taxes paid on a home in the village went up by 1.13%. “I don’t think you will find a town that has done what we have done over the last six years,” said Cardone. The Monroe town tax levy for 2024 comes in at $3,606, which is again below the property tax cap for the coming year.

Cardone said he hopes that next year they can again keep any increase under the cap. He mentioned that other municipalities are having the same issues with the NYS tax cap due to inflation and other cost increases. “The thing the tax cap represents in NYS is political. If someone goes over the cap, they’re going to be attacked. That’s not the case. We’re using less. I hope next year we stay at this point but I know it’s going to be difficult. It’s not just me saying that, it’s a lot of mayors and supervisors, but it’s going to be difficult because we can’t keep cutting into our reserves.”

Town Councilwoman Mary Bingham added that it was great news that town employees would see an increase of 4.5% in pay given the tough economic times they are facing. Town employees who have also taken on additional responsibilities will also see some additional compensation. The supervisor then motioned for the board to approve the 2024 budget, which it did so unanimously.