The Village of Spring Valley Board of Trustees approved the upcoming budget Wednesday night, keeping the tax increase within New York State’s property tax cap and rejecting a proposal to override it.
During a public hearing, the board considered a local law that would have allowed the village to exceed the cap. However, the majority of the board voted against the override, ensuring the final budget remains fully compliant with state guidelines.
The approved budget includes a tax increase of 3.62%. While often referred to as a “2% cap,” the limit, enacted under former Governor Andrew Cuomo, is actually based on a formula that factors in inflation and allows for certain exclusions, including mandated expenses and contractual obligations. These adjustments can result in a higher allowable increase without violating the cap.
In Spring Valley’s case, officials said those required costs account for the difference, bringing the village’s allowable increase to 3.62% while still remaining under the legal cap.
Village leaders emphasized that the budget reflects a collaborative effort among all trustees, balancing fiscal responsibility with the reality that residents already face a significant tax burden. They noted that the increase is largely driven by expenses the village cannot control, including state-imposed mandates and contractual obligations.
Board members also pointed to a track record of restraint in recent years. From 2019 through 2022, the village saw little to no tax increases, with some years even reflecting slight decreases. In 2023, the increase was approximately 1.93%, followed by about 1.99% in 2024, and roughly 3.6% in 2025.
While officials acknowledged they would have preferred to avoid any increase, they stressed that current financial obligations made that impossible this year. They added that the board remains committed to limiting future tax hikes while continuing to meet the village’s operational and legal requirements.
We gotta dissolve the village