Development News for Ringwood, New Jersey

Ringwood Council Adopts 2026 Municipal Budget Amidst Fiscal Challenges and State Mandates

The Council of the Borough of Rickwood held its business meeting on May 19th, 2026. Key discussions included the budget for Ringwood Downtown, a 501c3 managing the special improvement district, which is seeking council approval for its operating budget. The special improvement district assessments comprise the smallest portion of Ringwood Downtown's budget, with most funds obtained through sponsorships, private donations, and in-kind contributions. The council also discussed and ratified the 2025-2026 operating budget for the Ringwood Downtown Special Improvement District. Additionally, the council considered and adopted Ordinance number 2026-05, concerning the cost of living adjustment (COLA) for municipal budget appropriation limits, which provides budgeting flexibility without authorizing additional spending or raising taxes. A resolution was passed authorizing the increase in deferred school taxes for local and regional high schools. The council also reviewed and approved the 2026 municipal budget, a comprehensive document detailing expenditures across various departments, including the police, DPW, administration, garbage and recycling, debt service, insurance, library, health department, recreation, and utilities. The budget reflects a 4% increase, leading to a 5.6% increase in the actual cost to residents due to decreased revenues. Significant factors influencing the budget included state-mandated costs, unfunded mandates, increased insurance, and rising utility and material costs. The meeting also included a public hearing on the 2026 municipal budget, where residents voiced concerns about potential cuts to the library, the impact of state mandates, and the overall fiscal health of the town. The council ultimately adopted the budget, totaling $19,232,740.25, with $14,152,874 raised by taxes.