NO TAX RATE INCREASE - FY26 Budget Update

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AmyJean Chung Fry

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May 3, 2025, 11:07:12 AMMay 3
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Neighbors,

On Thursday evening, we had a budget meeting to look over all proposed department budgets. I have attached it to this email.

We will NOT have to raise tax rates. 

I am well aware that nobody was pleased with the past two years of tax increases. It was a difficult choice but one that the FULL Council committed to at the time when we were going for the AA++ Bond rating to reduce the rates of our bonds for the Public Works Eley Building (see photos from the guided tour yesterday). We all knew that committing to a balanced budget policy would be challenging but it would take some unpopular choices of raising taxes or cutting services. I don't regret those choices in the past because I knew it was important for the Town and it was my fiduciary duty. I am grateful for those who despite not wanting to pay more taxes, understood the difficult decision and supported them.

Now we are in a year where we anticipated yet another jump. However, because our dedicated staff/team have been able to apply for state grants, federal earmarks, county monies - some costs have been offset. I will be honest, this was a team effort and one that we did not use a lobbyist, grant writer, or outside help. Our Administrative Team spent extra hours to make this happen. We used every relationship we had in the county, state, and federal government - and we were not let down. 

We have a fully funded police department that is 24/7 and we didn't have to dip into the fund balance to get them there. We didn't have to cut our 2x a week trash services or sacrifice any of our public works services or community engagement. 

So here we are today, the Mayor (with CM support) told our department heads, "let's tighten our belts" and show us what that looks like. Federal workers/contractors are in employment uncertainty and things happening around us are creating trauma and anxiety - we understand this and many of us are impacted directly too.  The attached budget is what they provided and I think they did a fantastic job. Because we didn't have to dip into the fund balance over the last two years - we are in a healthy and good spot moving into this uncertain economic period, a period where our neighbors may need support. 

Again, I am grateful that the council members who stood by those tough decisions did so with me. But for the brave decisions in FY24 and FY25, the predicament we are in now - when things are even more uncertain - would be more challenging. 

We will NOT have to raise tax rates for FY26. 

The proposed rate at this time is below and it remains the same as last year. Now, what you pay may go up if your property assessment increased (which I think most of ours did).  But we do have the Cheverly Homestead Tax Credit that we increased to $150 this year to assist. 
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Originally, I intended to recap the budget status after Wednesday where we had a budget meeting scheduled. It appears we won't be having it so I want to provide this information now.

I also want to address a comment about council compensation and the increase in taxes - this is something I addressed 2 years ago as well (read that here) - the conversation regarding council compensation was occuring before I even entered office in 2019 because it had been a while since it had been revisited. Council voted to increase compensation for those in the NEXT term (2023-2025), as it is impossible for a sitting elected to give themselves a raise. There were 2 council members opposed - one who said he would just donate it back to the town b/c he didn't agree with the raise & the other who continued to serve and take the compensation he voted down. Was it a big jump from $2400 to $7000  (for CMs) - sure, if you look at percentages.  But break it down weekly at $135/Week ($46/week prior) to an 8 hour day salary of $16.82/hr ($5.77/hr prior). I believe that every single elected serving Cheverly deserves that and more because most of us put in more than 8hrs a week into our duties. 

The current Mayor continues to receive $3600/year while the 2023 electeds receive $7000/year because her term began prior to this ordinance; also, a reminder - the Mayor did not vote on it.  The incoming Mayor will receive the increased compensation of $8500/year. 

This won't be my last newsletter. However, the election shakes out - you will receive at least one more. 😍

Please don't forget to come out and vote on May 5, 2025 (Monday) from 7am-8pm at Cheverly Town Hall - 6401 Forest Road. I have heard some neighbors say they requested mail in ballots and it has yet to come, please come to town hall if that is the case and speak to an election board supervisor. Every vote counts and we want to make sure your voice is heard. 

As always, call/text/email me if you need me 

PS. Neighbors on the 3100 block of 63rd Place are petitioning for traffic calming and the petition is being processed. 
 

Check out the Cheverly town newsletter/en Español
If you missed the Town Meeting on Thursday, you can watch recordings of all town meetings here. 


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Budget Review 5-1-25.pdf
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