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Paulsboro reviews 2027 budget scenarios as council introduces 2026 budget
Summary
Administrator Marino presented two 2027 tax scenarios — a 9‑cent or a 17‑cent increase per $100 assessment — and council introduced the 2026 budget by resolution; council cited lost ratables from EEW bankruptcy as a driver of uncertainty.
At the June 9 meeting Borough Administrator Marino outlined two possible paths for the borough’s 2027 budget. The first scenario would raise property tax by 9 cents per $100 of assessed value, a plan Marino advised against because projected revenue losses (including the recent EEW bankruptcy tied to port‑related wind development) would force use of surplus. The alternative would raise taxes by 17 cents per $100; that larger increase is intended to avoid drawing down surplus and to preserve funds for the following year when revenues are expected to be low.
Council members discussed the arithmetic behind those options: Councilman Haynes noted the average Paulsboro home assessment is $106,000 and that one penny of tax yield equals approximately $33,800. Separately, council adopted resolutions to read the 2026 budget by title and to introduce the 2026 budget (R.26.165 and R.26.166). Minutes record the council adopted the budget introduction resolutions without recorded dissent; an addendum (R.26.167) was also approved requesting an extension to file the 2025 statutory audit.
