Comptroller speaks at Island Park Business and Residential Chamber

Nassau County comptroller George Maragos spoke to the Island Park Business and Residential Chamber at its Nov. 13 meeting. Maragos spoke about county costs rising faster than increases in revenue growth due to the lifting of the wage freeze, a decline in sales tax revenues, less sales tax revenue from online shopping and a lack of wage growth. This will all increase the county budget gap next year and beyond.

According to Maragos, the recent 3.4 percent property tax increase in the 2015 adopted budget — which is within the state tax cap — will help but will not be sufficient to narrow the gap between expenditures and revenues. Further actions will be required by the Administration, the Nassau County Interim Finance Authority and the Legislature to restore fiscal balance. Maragos recommended greater streamlining of government operations to reduce costs and avoidance of property tax increases.