Lynbrook village officials adopt $45.5M budget for 2022-23

Lynbrook Mayor Alan Beach

Mike Smollins/Herald

Lynbrook village officials unanimously voted to approve a $45.5 million budget for 2022-23 and to not pierce the New York state tax cap, which is set at 2 percent. 

“I’m very happy that we didn’t have to go over the tax cap and that we were able to stay under it,” Mayor Alan Beach said. “We were able to work together to keep us under the tax cap.”

The spending plan is a $1.6 million increase from the 2021-22 budget. It includes an annual tax increase of 1.5 percent for residents.

Beach said the village typically tries to maintain at least 16 percent of its reserve funds, and even though the balance went down to 12 percent at the height of the pandemic, it now has $8.9 million in reserve funds, a 19 percent cushion. He added that he was pleased to not have to pierce the tax cap despite the financial struggles brought on by Covid-19 and that the village maintains a strong bond rating. Additionally, he thanked the board for working together to finalize the budget.

“Due to sound government, most villages are increasing the tax cap, while we are .5 percent below without removing any services,” Beach said. “Most villages are going above the 2 percent tax cap.”