The Township of Nutley announced details of its 2026 municipal budget Tuesday night at the Board of Commissioners meeting, which demonstrates the community's strong financial health and outlines necessary adjustments to operating costs. The budget, formulated by the five municipal departments, is compliant with State of New Jersey guidelines and was presented by Department of Revenue and Finance Commissioner Thomas J. Evans. The budget is scheduled for a public hearing pending amendments, with adoption anticipated at the first meeting in June.

Before detailing the proposed 2026 budget with an easy-to-read slide presentation, Commissioner Evans gave an overview of the Township’s financial health. “Nutley continues to be in excellent financial shape,” Evans stated, “boasting an Aa1 bond rating from S&P, the equivalent of a personal credit score over 800. This strong posture allows the municipality to borrow money at low interest rates for the benefit of taxpayers. Nutley’s current debt has decreased year-over-year by approximately $3 million, representing only 11 percent of its total borrowing capacity of $195.0 million. The Township is able to pay its bills without temporary financing and maximizes the use of grant dollars to minimize debt.”

Key Budget Figures:

• Total Municipal Budget (5 Departments): $67,661,822.

• Amount to be raised through property taxes, including the library: $49,057,558.

• Total Municipal Increase with the Library: $3,329,337, or 7.3 percent, which includes $181,000 for the Nutley Public Library.

• Average Tax Impact: For an average household assessed at $494,786, the municipal ($322.00) and library ($18.00) tax portion is estimated to increase by $340 annually, or approximately $28.33 per month. The Board of Education (which is legally a separate entity from the municipality) projects an increase of $410 (approximately $34/monthly) and the County projects an estimated increase of $50 (for the year).

• The Total Tax Levy is estimated at $800.00 or $68.00 monthly for the average residential taxpayer.

Cost Drivers:

The most significant factor driving the cost increase for the municipality is health benefit costs - a trend impacting the entire State of New Jersey. The medical health insurance bill for the Township increased by $3,015,102. Salary increases dictated by union contracts account for an additional $977,000, which includes $877,000 allocated to public safety.

Sewer Utility Update:

The sewer utility operates as a separate legal entity and is not included in the property tax levy. The primary cost drivers for the utility relate to sewer treatment and water provisions. External utility cost increases include the Passaic Valley sewer treatment bill (7.2 percent) and water provider costs (4.3 percent) and account for most of the cost increase, while internally-managed costs for salaries, benefits, other expenses and debt service are substantially flat at 0.9%.

“Our core obligation remains the health, welfare, and safety of the community,” Commissioner Evans added. “Residents with questions about the budget are encouraged to email their questions to the CFO's office at Treasureroffice@nutleynj.org for follow-up and response.”

To view the full 2026 proposed budget presentation, please visit https://bit.ly/26nutleybudget or scan the QR code below.