New Hyde Park releases tentative budget that cuts taxes 5%

New Hyde Park releases tentative budget that cuts taxes 5%
New Hyde Park's new sign outside Village Hall. (Photo courtesy of the Village of New Hyde Park)

The Village of New Hyde Park released its tentative budget for the 2023-2024 fiscal year, which includes a 5.11% decrease in taxes.

The village will have a budget hearing on Monday, April 3 while the vote to adopt the next fiscal year’s budget will be on Thursday, April 20. 

Last year, homeowners saw a $200.88 increase in village taxes, with about half of the increase going toward the new community center to replace Marcus Christ Hall, which was demolished this winter. 

Mayor Christopher Devane said during the March 16 board of trustees meeting the village made a promise that the approximate $100 raise was a “one-shot deal” and he’s confident in being able to repay the homeowners. 

“You held us to that promise and we are confident that it will be coming back to you,” Devane said.

Budget appropriations amount to $7,197,592.25, which would be a decrease of $174,418.27 from last year’s budget. 

The tax levy would also see a decrease of $274,918.28 from last year’s budget. The maximum allowable limit in the tax levy for the village is $132,849.66, or 2.41% to stay within the state tax cap, but the tentative budget shows a 5.11% decrease. 

Homeowners in the village with an assessed valuation of $5,400 can expect their tax bill to decrease by $84.78.

Building a new community center is one of the many infrastructure projects that are ongoing or currently being planned in the village. 

Village hall and Memorial Park have been undergoing renovations since last year. The board has long been talking with construction design firms to renovate the department of public works building, which is nearly a century old. 

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