The Glen Cove City Council on Oct. 24 held its second hearing on the proposed 2024 budget.
The total budget is approximately $63.5 million. There will be no tax increases for residents, and a 5.83 percent decrease in taxes for commercial properties.
“It’s very frightening how we’re starting to turn on our thermostats now,” Panzenbeck said. “The cost of home heating oil, gasoline for your car, gas to heat your house, chopped meat is $4.99, $5.99 a pound. It’s very difficult for a lot of people.”
Panzenbeck also addressed a claim that there is an increase in assessment that causes a bump up in taxes.
“It is not true,” Panzenbeck said. “The levy is adjusted. If you take a look at your tax payment for 2021, 2022 and 2023, and I happen to have mine here, they are within a penny. So unless you’ve done something substantial to your home, added a dormer, added a room, added a pool, whatever people do to increase their taxes or you incurred a late fee, your taxes were flat.”
The budget can be viewed here.
No comments were made and the hearing was closed. The Glen Cove City Council adopted the proposed budget. However, some residents did express concerns, or asked questions, during the public comment section about the budget.
“I’m delighted that it’s another year of zero percent tax increase, while we’re still able to take care of incredibly important needs of the city, especially including the adjustment much needed for the EMS to retain them,” said Glen Cove City Councilwoman Barbara Peebles.
The proposed 2024 budget recommends approximately $1.1 million be allocated towards EMS, an increase of $110,323.
“I too am pleased that residents will not see higher taxes in 2024, however I am quite concerned how that was done,” said Councilwoman Marsha Silverman. “The budget was a one-year budget, again, as always, and I continue to say that we must do longer term planning.”
Silverman cited concerns of relying on one-shot revenues, such as utilizing building fees for revenues.
“I want to say as I say almost every year, budgeting should not be a one-year exercise, we have to manage this,” Silverman said. “I know our comptroller does a good job with this, but we have to be very careful that when there are risks, we manage those risks and we continue to improve where we are, and stop some of these risky practices.”
Despite her concern, Silverman voted in favor of the budget.
“I think we all know this, all the budgets come with some risks, and there’s some benefits to it,” said Councilwoman Fugazy Scagliola. “Some of those risks are those big payments we’re expecting from RXR [Realty]. We’ve got to hope they come in. I also think it’s important to know we’ve had a great two years. We’ve had a [great] situation with the idea of the [American Rescue Plan Act] funds coming in and then with our interest rates. We were only expecting about $100,000 for our interest this year, and we’re going to close probably with over $1 million. There’s just been some things that have been in our favor, and it helped us with the shortfall in the budget this year.”
