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Home My WebLink AboutPreliminary Budget_2026 TOWN OF MAMARONECK ,,,;:i''.4d,—;:tv.A. rIP '''- ,,, -•,,, , 2026 ,,,,,,,.,,„,t, ,,,,_.4.47,,......,. ,.. ,,, .,,.... , ,. , � ,,,,,,licl , tec_11 PRELIMINARY �¢, ?z. <h� ' mil, , �,� � � � pis t fi��y BUDGET MAMA Q�ECK Tom ..„ 740 W BOSTON PpST ROAD_ E'rj Budget Goals and Strategies ! ...4 ir Support Healthy I i,� ,- a 1 Communities / rE { r per.-• s , , Create Safer' , :: ci:ifitf, Connections Enhance Resiliency !• •• Strengthen �, Town's �```•�..�0. iw� Economic Health . . • ,lit,hoommo '' w� . • ✓ l 2026 PRELIMINARY 4..,„„ • • . r BUDGET . . . . - HIGHLIGHT -, ,___ 41 The 2026 budget includes 1 % 'Nt T Levy Increase is $3.3 m for capital projects on FRFST 2.83/o = State Tax a pay-as-you-go basis, - 1614. Cap :. ,- resulting in substantial 0- savings on future debtI service and borrowing costs. _ Townwide Inc= $292 This budget gets the Town Mr Village Inc= $24 closer to being structurally st...GY ' �. The Town will be in balanced with more "WNAGENIENi compliance with bond rating 1 flexibility in the future to %, 4" I'' .AEKE1Ni. agency guidelines if the S fund the Towns capital � stM�PROJECTr revenues and expenses meet x . E I needs. PLANNING the proposed budget and a : I'l .E..ng wN p p g Ti UEvaofteN, ,1 \ / maintain Aaa bond rating NNANCE NO"°"G 3 2026 BALANCING ACT TO BALANCE THE BUDGET: SAVINGS (FUND BALANCE) =$1.6 million REVENUE = Tax Levy= $35.6 $20.9 million million XPENSE BUDGET INCREASES A • Salaries $ .4k • NYSHIP- 10% Medical Insurance .6k n �� • NYS Pension Increase .3k • Contractual- Sanitation services .2k • Contractual- Utilities .1k • Contractual- 2025 One time (.6k) • Transfer to capital 1 .2m • Debt Service .2k Total Expense Increase $2.4m 5 2026 EXPENSES = $58.lm ____ 2026 2025 $20,000,000 $19,353,206 $1a 968 451 41111/ $15,OOO,OOO $14,815,63/ $14,561,5/6 $14,S43,3/z S1 9961,2z) $I0,OOO,OOO $5,OOO,OOO4,452,492 $4,264,051 $3,34/,490 $2,121,000 $957,700 $951,625 $625,290 $640,790 $0 �ti �� titi� 9 GHQ cti- 'tiQ �� 04` a �t pQ 4ati. 4�� Q�o9 �� ti ti �• .� 1 6 REVENUE BUDGET INCREASES • Proper y ax evy a h . 1 mi ion • Water Fees .8 _,_ • Police Special Duty .2 _i_C—a• Ambulance Fees .3 o • Recreation Fees .2 • Investment Income .2 • Tax Penalties .1 • Appropriated Fund Balance- Capital .3 • Appropriated Fund Balance- Operating (.9) • Various .2 Total Revenue Increase $2.4 (e) 7 k • ' Y BUDGET • MP % 2025 2026 $ %of 2026 Budget Adopted Preliminary Variance Budget Change Expenditures $55,750,512 $58,113,391 $2,362,879 100% 4.2% Tax levy $34,633,500 $35,612,000 $978,500 61.3% 2.8% Non-Property Tax Revenue $18,877,812 $20,875,691 $1,997,879 35.9% 10.6% Appropriated Fund Balance-Ops $1,297,200 $340,500 ($956,700) .6% (73.8%) Appropriated Fund Balance-Capital $942,000 $1,285,200 $343,200 2.2% 36.4% 8 UPDATES TO TENTATIVE BUDGET TOTAL DECREASE (306,200OP SALARIES DECREASE EVEN U E ($78,500) UTILITIES INCREAS DECREASE REAL PROPERTY TAXES $24,100 ($32,400) DECREASE 0 NI ilkliii ($392,000) CAPITAL PROJECTS DECREASE APPROPRIATED FUND \ ($216,300) BALANCE INCREASE $61,700 CONTRACTUAL INCREASE $21,000 I 9 2026 Town Tax Increase For Average Price House Village Annual Tax Increase Townwide Annual Tax Increase $800 $721 $600 $551 $412 $406 $400 $292 $200 $108 $150 $57 $13 ,$24 $o 2022 2023 2024 2025 2026 10 APPROPRIATED FUND BALANCE HISTORY Operations Capital 11—Trrn $3,500,000 $3,000,000 $2,500,00o $2,000,00o $1,5oo,000 $1,000,000 $5oo,000 $o 2016 20P7 2018 2019 2020 2021 2022 2023 2024 2025 2026 2026 TAX LEVY 2025 TAX LEVY $34,633,500 TAX LEVY CAP @ 2.83% $ 981,800 a 0 TAX LEVY @ Cap $35,615,300 2026 PRELIM TAX LEVY $35,612,000 2026 TAX LEVY INCREASE $ 978,500 r TAX LEVY INCREASE % 2.83% 0 ro TAX RATES-TOWN 2026 Town Tax Rate Per $11( Assessed Value $5.53 2025 Town Tax Rate Per $11( AV $5.55 TAX 2026 Town Tax Rate Increase (.26%) 2026 Town Tax (Per average AV $1.7om) $9,448 2025 Town Tax (Per average AV $1.65m) $9.156 2026 Town Tax Increase $ 292 2026 Town Tax % Increase 2.28% 13 TAX RAT Eis_v L LAG Es 2026 Town Tax Rate for Villages Per $ik Assessed Value $.63 2025 Town Tax Rate for Villages Per $ik AV $.64 2026 Town Tax Rate for Villages Decrease (i.i6%) 2026 Town Tax for Villages (Per average AV $1.7o81m) $1,075 2026 Town Tax for Villages (Per average AV $1.651m) $ 1,051 2026 Town Tax for Villages Increase - $ 24 2026 Town Tax for Villages % Increase = 1) 2.28% 14 TAX BILL BREAKDOWN 111 Village of Mamaroneck Village of Larchmont Taxes= 0. Taxes=$38,889 $36,175 Town Taxes Town Taxes County Taxes $1,075 AM16, 111 County Taxes $1,075 $5,471 X 3°k $6,179 3% X 14% 17% 55% 59% School Taxes 28% $21,266 Town Residents=$36,185 21% School Taxes Village Taxes County Taxes Village Taxes $21,266 $11,077 $5,471 $7,655 15% 26% 59% Town Taxes $9,447 School Taxes $21,266 15 FUND BALANCE FUND BALANCE: Estimated as of 1/1/26 $22.2 million Revenue - 2026 Tentative Budget $56.5 Expenses - 2026 Tentative Budget _($58.1), FUND BALANCE: Estimated as of 12/31/26 $20.6 million 35.6% of Expenses 42.5% of Revenues Moody's, the Town's bond Town Needs 4 months of rating agency Total expenses of recommends maintaining $18.6 million a fund balance of 40% revenues L 16 $12 . 6 Capital Improvement Plan Alt yIWO ' 1Water System Other Projects Band Costs $ Cos CAPITAL PROJECTS BY TYPE Improvements $2'3,`"� $1,815,290 2`' 1% Vehicles&Equipment 14% $716 A0d Town Buiding 6% Improvements $1,223,0oo Sanitary Sewer 10% System $2,100,000 .1. `,mil 18% . Recreation Fadities '4 $896,700 -. - i 7% - - _ Information Technology .. i .._ $- 0% C [ Roadway&Highway Improvements ,.. PROJECT $1,33 0 - Storm Drainage 14% i _ Improvements O $3,65fr,500 Z9% .. . y k $12 . 6 Capital Funding Plan . , _ __ a REBATING BUDGE" • " TRANSFER ' PO 32,062,294 it 41. FUND BALANCE iIt4I = ' S1.255,200 - 1g1i X Z\ OFS7,432,0 b4 MAWS/ Sti eftimn. LOCAL SERVICES S1,015,250 � SS% / 18 Five Year Capital Approximately 75% of the 2026 Capital Projects are storm drainage, sewer Budget projects, roads, sidewalk and water projects. $14,000,000 $12,595,740 $12,000,000 $10,228,510 $10,188,275 $10,000,000 $8,758,765 $8,193,010 $8300030OO $7,175,119 $6,OOO,OOO $4,000,000 $2,000,000 $0 2021 2022 2023 2024 2025 2026 � EFERRED CAPITAL PROJECTS .1 Million Major Deferred Project a. Traffic Signal-Forest/Murray Ave $.7 m b. Vehicles .4 m c. Highway Pkng Lot/Windows .2 m d. Other Projects- Including painting, ice rink flooring .8 m $2.1 m 20 Major Capital Projects PROJECT DESCRIPTION AMOUNT 411- VI Construction of flood mitigation storm sewer improvemen Storm Drainage $3,656,500 based on the comprehensive drainage evaluation project. Sewer Projects Baldwin Ave pump station construction including a generator $2,100,000 16.67% Design was funded in 2025. il Roads & Renovation of Madison Ave streetscape to include stormwate Highway infrastructure measures. Roadway reconstruction and sidewalk 1,838,000 4.6°/- and curbs,streetlights. Water System Rye Lake Filtration Plant Construction. $1,815,290 Improvemets w Town Building! Senior Center,Town Center third floor bathrooms,Town share 888,000 Improvements of demolishing the sanitation facility incinerator I ab Recreation Design development for the Town's recreation fields; shadII $510,000 4.0% Projectsructures/trees for Memorial Park playground; la 21 PENDING BUDGET ADJUSTMENTS A NYSH I P Rates-TBD CLibrary Funding $19k Town's Share of Larchmont-Mamaroneck Joint Garbage Commission CRecreation Master Plan CSalary Adjustments L BREAKING NEWS