The City of Lambertville Council has approved the 2025 budget that includes a slight tax increase.
Last month, city council voted to adopt the amended $8.1 million budget following a public hearing.
Mayor Andrew Nowick thanked the finance team for their work on the budget, adding it’s a year-long process that involves reviewing every single line.
The 2025 estimated tax rate for municipal purposes is 0.454, up slightly from last year’s rate of 0.446. For the average home valued at $448,738, this translates to an annual increase of $39.53, the mayor said.
When the budget was introduced earlier this spring, Nowick praised the collaborative effort behind its development.
“This is a very good budget and it’s the work of many hands,” Nowick said.
Nowick emphasizes that council members share common ground on policy decisions impacting the budget, particularly regarding “good governance, employee compensation and development, capital planning and maintaining and improving our municipally held assets such as our treasured buildings, our roads, parks and stormwater systems.”
The budget reflects what the mayor describes as “several years work to stabilize our finances and keep the tax rate as low as possible.”
Key drivers of this year’s budget include rising healthcare costs, accumulated absences, and anticipated legal fees. Personnel costs remain relatively stable, with only minimal changes due to staff turnover.
The budget benefits from Lambertville’s growing property valuation, which helps offset some cost increases while maintaining services.
Looking ahead to future capital expenses, the mayor outlined several items being considered for the 2025 capital bond ordinance.
The costs include approximately $12,000 for police station improvements required by the New Jersey Department of Corrections, painting of the police station, exterior lighting, and $60,000 for body-worn cameras. The Department of Public Works needs a new pickup truck and a recycling truck estimated at $350,000 to replace the current 2009 model. The Justice Center requires $75,000 in improvements to meet ADA requirements for audio and visual accessibility.
Additional capital projects include mapping of the city’s stormwater system and retrofitting approximately 276 storm drains at a cost of $500 to $1,000 each, as required by the state.
The Historic Preservation Commission is seeking $10,000 to create a large-format architectural book featuring significant architectural sites in the city.
The mayor also proposed allocating about $40,000 to replace trees throughout the central business district.
The mayor told council that the roads are in good shape and he doesn’t expect any major projects.
“We are mindful that we’ve had a lot of capital expenses in the last couple of years,” Nowick said. “This would be probably the last year in which we have this, certainly this level of bonding. I don’t anticipate this kind of bonding in the next couple of years.”
Advertisement
Meet Your Canna Coach: Personalized Guidance, Free for You!
Leave a Comment