file photo by Boyd Loving
the staff of the Ridgewood blog
Ridgewood NJ, Ridgewood families are going to have to start making choices between food on the table, gasoline and property taxes.
Here’s the data from the recently adopted 2018 Municipal budget: (https://www.ridgewoodnj.net/images/User_Friendly_Budget_2018.pdf )
Village net debt is now $50.1 mm BEFORE the garage and further property investment. Interest costs are rising, so that will act as a further drag on spending as more of the budget goes towards interest expenses on our debt going forward.
Yet this Council currently budgets for declining interest expenses. This is not conservative accounting, suggesting falsely that interest expenses will decline from $1.91 mm in the current year to $1.59 mm in 2019 and then $1.45 mm in 2020.A $460,000 reduction in municipal interest expenses in the two years?
That’s creative accounting! Has no one at Village Hall looked at rising interest rates with an Aa1 rating? Or budgeted for the garage and property investment? And what happens if S&P cuts the Aa1 rating?
Many people will pay the taxes late.
This is a big deal that nobody talks about. Nobody in government wants to talk about it because they want to keep spending other people’s money. Tax payers don’t talk about it because they have no idea what’s about to smack them upside the head.
Well said Anonymous ” Nobody in government wants to talk about it because they want to keep spending other people’s money “
The Village hall mosquito heard that the village spent big amount of money on GPS Vehicles system on the hole fleet .Why, and who’s moderating this. Something smells very fishy. And don’t come back to watch him and say this is all my savings. As a taxpayer waste of money. But this Not about money. This is about going after someone. Because you have no trust. No backbone, and no blood in your system ice.
Why they’re spent in my tax dollars on this, is this extremely important at times like now. Let’s worry about infrastructure. We are parking lots that are blown through their ass. Has the mayor and council seen park-and-ride where I park every day. What about Cottage Street lot where my whife parks every day.
WOW
What . My god Really
Yes , Really they love wasteing hour money. We are really getting sick and tired of the bullshit. They’re trying to run the village of Ridgewood like a corporation police. PLEASE.
The raised massive Garage on Hudson needs to be cancelled.suck it up and pay the
cancellation penalties as this utility will Not pay its own way at any point. we are in a higher momentum interest rate environment in the years ahead even on Muni Debt.
Cost of Steel, ReBar and Aluminum are all up as far as construction costs as well as labor.Garage is a scam taxpayers and we the Taxpapers are getting screwed again.