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Council introduces 2026 budget citing $500,000 water utility shortfall; public hearing set for May 26
Summary
The North Caldwell Mayor and Council introduced the 2026 municipal budget with a 1.21% tax increase — roughly $40 annually on an $800,000 house — citing a $500,000 deficit in the Water Utility. The budget will be posted online and a public hearing is scheduled for May 26 at 6:30 p.m.
Mayor Joshua H. Raymond and the Borough Council introduced the 2026 municipal budget on April 28, 2026, following a motion by Councilman Arthur Rees and a second from Councilman Matthew Atlas. Councilman Rees said the budget includes a 1.21% tax increase and noted a significant shortfall in the Water Utility.
"The increase of 1.21% would result in approximately a $40 increase per year on the average assessed property of $800,000," Councilman Arthur Rees said, and he described a roughly $500,000 deficit in the Water Utility that the budget attempts to address. Borough Administrator Glenn Domenick said the budget document will be available on the Borough website the next day. The council scheduled a public hearing on the 2026 Municipal Budget for May 26, 2026 at 6:30 p.m.
The introduction motion (Resolution R-77-2026) carried; the council read departmental reports into the record beforehand and will accept public comment at the May 26 hearing. The article reports only the facts recorded at the meeting: the percentage increase, the approximate household impact, the stated Water Utility deficit, and the scheduled public hearing.
