Ridgewood’s 2025 Taxes — What the Numbers Really Say

the staff of the Ridgewood blog

Ridgewood NJ, As Ridgewood residents debate the 2025 municipal budget and the impact of Valley Hospital joining the tax rolls, it’s important to look carefully — and fairly — at what’s happening with taxes.

Here’s the reality, by the numbers:

 By the Numbers: Ridgewood Budget Trends 2023–2025

Table Notes:

• Figures represent municipal budget amounts and municipal taxes only.
• Percentages reflect year-over-year changes based on adopted or proposed budget documents.

What’s True About the 3.14% Homeowner Increase

Village officials are correct that the average Ridgewood homeowner’s municipal tax bill is projected to rise by about 3.14% in 2025 — roughly $149 more for the year.
The new revenue from Valley Hospital’s entry into the tax rolls helped soften what would have been a much steeper increase.

If the Village had proposed the same level of spending without the new ratable, average homeowners could have faced a 6.63% increase — about $316 more per year.
However, it is possible, and more than likely, the Village would have made different budgeting decisions if that additional revenue had not been available.

But Here’s the Bigger Picture

While the average homeowner’s bill looks modestly impacted, the total amount of taxes Ridgewood must raise (the municipal tax levy) is growing much faster.

• In 2024, the total tax levy rose by 3.0%.
• In 2025, it will rise by 6.6% — more than double the prior year’s pace.

This sharper increase reflects broader changes in the Village’s overall revenue picture.

Over the past several years, Ridgewood benefited from temporary federal relief funds, such as COVID-era American Rescue Plan (ARP) money. As those funds expired, the Village faced a revenue gap that needed to be filled — and property taxes became the primary tool.

Adding Valley Hospital to the tax rolls helped expand the taxable property base, providing new revenue that moderated the potential increase for individual homeowners.
However, rather than using this new revenue to hold the overall budget flat, the Village incorporated it into continued year-over-year appropriation growth. This trend has remained relatively steady at about 6% per year.

In other words, Ridgewood’s reliance on property taxes is increasing, not because spending exploded, but because other revenue sources shrank and the Village chose to maintain its prior pace of spending growth.

 Bottom Line for Ridgewood Residents

• The Valley Hospital addition helped lower what would have been an even bigger tax increase for homeowners.
• The tax burden overall is still growing significantly, largely because of rising spending and the end of temporary outside funding.
• Understanding both the household impact and the total budget picture gives a fuller view of why taxes continue to rise — even in a year when the tax base expanded.

Looking Ahead

With Valley Hospital’s tax appeal pending and rising economic pressures, Ridgewood’s financial decisions in the next year will be critical.
If the appeal is successful, some or all of the expected new tax revenue from the hospital could be reduced or delayed — potentially putting additional pressure on future budgets.

Residents should stay engaged, ask clear questions, and expect full transparency — not just about percentages but policies and priorities.

The final public hearing and vote on Ridgewood’s 2025 municipal budget is scheduled for Wednesday, May 14, 2025, at 7:30 PM at Village Hall.
This session follows the initial budget hearing held on April 1, 2025, and marks the final opportunity for residents to provide input before the Village Council votes on the proposed $64.8 million budget.

Author’s Note:

This analysis was prepared with assistance from ChatGPT-4o, based on exclusively publicly available reports provided by the Village of Ridgewood via the Village website, including the adopted budget presentations for fiscal years 2023, 2024, and 2025.
All figures cited reflect official appropriations, tax levy requirements, and municipal tax rates as published by the Village. No estimates, unaudited numbers, or third-party data sources were used.

 

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