Village Board approves $25M budget with modest 1.81% tax levy increase

In a recent public hearing held on April 9, 2025, in Mineola, Nassau County, village officials discussed the proposed budget for the upcoming fiscal year, highlighting key revenue increases and expenditure adjustments. The meeting, led by Treasurer Giacomo Chacon, served as a legally mandated budget hearing, allowing residents to gain insight into the village's financial planning.

Chacon presented several notable changes in the budget, which is projected to be between $25 million and $26 million. Among the revenue increases, the village anticipates an additional $35,000 from Payment in Lieu of Taxes (PILOT) due to new developments at 155 First Street and 205 East Second Street. Furthermore, interest income is expected to rise by $185,000, reflecting an increase in interest rates from 3.5% to 4.22%. The building department also forecasts a $100,000 increase in permit fees, driven by anticipated commercial projects.

On the expenditure side, the budget includes a significant rise in liability and fire insurance costs, totaling an increase of $181,005, attributed to new buildings and market conditions. Pension costs are projected to rise by $75,000 due to changes in the New York State retirement system, while health and medical insurance costs will increase by $40,000, reflecting a 7% to 10% rise in NYSHIP rates.

Despite these increases, the proposed tax levy increase stands at 1.81%, remaining below the state-mandated tax cap of 2%. This modest increase is expected to have a negligible impact on the average household's tax bill, as village taxes constitute a small portion of overall property taxes.

The village's financial health was further underscored by a recent report from the New York State Comptroller, which indicated that Mineola is not under fiscal stress, with a score of zero on the fiscal stress indicator. This assessment reflects the village's sound budgeting practices and stable fund balances.

Deputy Mayor emphasized the importance of responsible budgeting, noting the balance between essential services and community enhancements. The board aims to meet residents' needs while also providing recreational programs and community events, fostering a sense of community among the village's 21,000 residents.

As the village prepares to finalize the budget, officials remain optimistic about the upcoming fiscal year, confident in their ability to manage costs while maintaining essential services and community programs. The next steps will involve continued discussions on the budget and the ongoing negotiations for a new collective bargaining agreement, which could further influence future financial planning.