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Cheverly leaders propose holding tax rates steady as FY26 budget reviewed
Summary
Town staff presented a draft FY2026 budget that keeps the residential tax rate at 0.5799 and the apartment rate at 1.175, projects modest revenue growth from higher assessments, and flags uncertainty in some grant and hotel/motel receipts; councilors pressed for line‑item details and asked staff for follow-up.
Mayor Oliver Watson called the Town of Cheverly’s fourth budget workshop for fiscal 2026, where town staff proposed keeping the current property tax rates while reviewing department budgets and revenue assumptions. Mr. Galloway told the council the packet includes salaries, job descriptions and department line items and recommended maintaining the residential rate at 0.5799 and the apartment rate at 1.175.
Mr. Galloway said that, because of increased housing assessments, keeping the same rate would increase tax revenues by roughly $304,000. He presented projected revenues for FY26 but the numeric figures shown and the numbers read aloud differed during the presentation; staff said the discrepancies were due to older documents and on-screen updates.
Council members questioned the reliability of several revenue sources. One member asked why 2024 hotel/motel receipts fell short of projections; Mr. Galloway said hotel tax revenue is tied to hotel occupancy and revenue (he cited Wyndham as an example) and that receipts arrive quarterly, with possible year-end auditor adjustments if totals deviate. Councilmember Leila Riazi asked about Program Open Space funding; Mr. Galloway said the town expects to receive those funds this year and that staff have identified a pathway project at Kimball Park as the likely use.
Councilors requested more granular, event‑level budgets for recurring items such as Cheverly Day and for the Rec Council’s event accounting. Mr. Galloway said staff would provide line‑item budgets and follow up on questions about grant earmarks and carryover reimbursements related to the Crestlawn project.
The workshop closed with a schedule announcement for a building tour of the new Ely/Public Works facility and staff reminding attendees construction‑site rules (18 and over). The meeting later moved into a closed session for legal advice and litigation consultation.
