Malverne’s village board unanimously approved no tax increase in its upcoming $17.2 million budget for the 2019-20 fiscal year, which begins on June 1.
“When you’re in that strong financial position, and when you’ve set on that course for many years to get to where we are, I’m a firm believer in giving relief to the taxpayers,” said Malverne Mayor Keith Corbett. “They’re the ones doing the hard work. If we weren’t in the amazing financial position we’re in, I would not do a zero percent.”
Talks about the budget began shortly after the village election in March. State Comptroller Thomas DiNapoli’s office also recognized the village board for financial stability that month. There were several reasons that the village board pushed for no increase in taxes, Corbett said, such as low interest rates and bond markets being easier to obtain. He also said that this would not be a long-term solution, and that taxes will eventually increase as the board has to plan and prepare for inflation and contractual agreements.
Corbett added that none of the services in the village will be affected by the board’s decision.
“[Mayor Patti Ann] McDonald left the village in a great financial position,” Corbett said. “After the election, we made a conscious decision to focus on the budget, because that’s where residents are affected the most. If you can give the relief in a financially responsible manner, then that’s what you should do.”