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CFO presents draft 2025 budget showing 5.6% tax increase; council presses alternatives and state aid
Summary
City CFO Javier Silva presented a draft municipal budget on April 8 showing a proposed 5.6% tax increase if the draft includes only $27 million of the $33 million in transitional aid requested from the state.
City Chief Financial Officer Javier Silva presented a draft of the calendar-year 2025 municipal budget at the Paterson council workshop on April 8, listing rising pension, insurance and salary costs and a pending request for state transitional aid.
“This budget highlights: our pension is going up $2,000,000, our insurance is going up $4,000,000 and our salaries are going up $4,000,000,” Silva told the council. Silva said the administration has asked the state for $33 million in transitional aid; because of…
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