The town board passed a budget Tuesday that keeps property taxes flat and shows a budget increase less than inflation, town says.

OYSTER BAY, NY — October 26, 2022

The Town of Oyster Bay board approved a 2023 budget that continues to freeze property taxes for the fifth consecutive year, the town announced.

(In comparison, the Village of Sea Cliff, Mayor Villafane increased taxes year over year, including a whopping 7% increase, voting to break the NYS tax cap in 2022.)

Town Supervisor Joseph Saladino and town board members met on Tuesday morning to vote on the proposed budget that stresses fiscal responsibility, a news release from the town stated.

The property tax freeze was first enacted in 2017, and now will continue into a fifth year. The town said they are now operating with a $62.2 million reserve. For the first year since 2013, Oyster Bay Town was not on the New York State Comptroller’s fiscal stress list, according to the town’s spokesperson, adding that the town’s record high water mark of a $763 million debt has now been reduced by $187 million.

The 2023 budget shows a 2.6 percent spending increase. The town pointed to inflation rates now over 8 percent, attributing the modest growth to the “Town Budget [continuing] to restrain government spending that is under our control.”

Oyster Bay will continue to focus on downtown revitalization in Hicksville and Syosset, the town says, and wants to modernize and streamline business permits to encourage small business growth.

“Our Town Board continues to ensure fiscal stability while delivering the highest level of services to our residents. This balanced budget continues to build on our overall financial success… while restricting new spending, freezing property taxes and making smart investments in our roadways,” Saladino said.