April 12, 2024
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April 12, 2024
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Teaneck Shares Results of 2022 Budget for Taxpayers

Your property tax bill is composed of four separate components: Teaneck Public Schools, Teaneck Free Public Library, Teaneck Municipal Services, and Bergen County Government. Please note that only the municipal services portion (32%) of your property taxes is administered by your mayor, council and manager.

The Board of Education solely determines the school tax levy from the annual budget it sets and incorporates any additional voter approved referendums or ballot questions. Similarly, Bergen County is responsible for setting its budget and tax levy. The Teaneck Library funding is a formula mandated by state law.

The 2022 Teaneck municipal budget was adopted on May 31. Below please find a breakdown of 2022 property taxes by each component: The municipal budget for 2022 includes no tax rate increase on the municipal portion of property taxes. This municipal budget marks the seventh time over the last eight years that the municipal portion of property taxes has seen no increase in the tax rate while we continue to maintain and improve upon the excellent government services our residents deserve

Please note this ZERO tax rate increase is only for the municipal portion of property taxes, as the remaining approximately 68% of property taxes for 2022 will be determined when the Teaneck Board of Education and Bergen County Board of Commissioners set their respective final budgets and tax levies later this year.

As your elected representatives, we face the ongoing challenge of making difficult choices in the provision of municipal services to ensure municipal government costs remain under control, while still maintaining a high level of municipal services for our community. In order to provide budget stability, we continually seek new revenue sources such as grants from various agencies on the federal, state and county levels, and from responsible well thought out development that benefits the
Teaneck community.

This year presents additional budget challenges as the inflationary cost pressures we all face as residents are the same that the township deals with in its operations. We continue, at Town Hall and throughout our other points of service to residents, to streamline and enhance our services in a cost-effective way achieving savings in certain budget lines thereby mitigating increases in others.

We also place a high priority on investing in the township’s infrastructure and recreation. This year will be no exception. The township will utilize grant, capital, and operational funding for a number of improvement projects.

Summary of the 2022 Municipal Budget:

  • Meets the objective of adopting a prudent and responsible budget while continuing to provide a high level of service to taxpayers with a zero percent municipal tax rate increase
  • Economic benefits of previous budget reduction measures are being utilized as revenue in the 2022 budget
  • Teaneck has implemented and negotiated appropriation reductions for 2022 to offset contractual, statutory and inflationary increases to other line items
  • Teaneck maintains favorable ranking for municipal tax rates, debt and surplus levels with other Bergen County municipalities
  • 2022 budget continues to reduce municipal debt levels while addressing necessary infrastructure improvements

The full 2022 budget is available for your inspection. You may view the 2022 budget in its entirety on the Township’s website ( www.teanecknj.gov ) along with a summary budget presentation under “Manager Documents.”

Dean B. Kazinci, Teaneck Township Manager

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