Fairfield Introduces 2024 Municipal Budget, a 3.3% Increase Over Previous Budget

FAIRFIELD, NJ -- The Fairfield governing body passed a resolution introducing the 2024 municipal budget at its Monday, July 22 meeting.

According to Fairfield Business Administrator James Gasparini, even though inflation is soaring, the 2024 municipal budget will cost the average homeowner an increase of less than $12 a month, or $142.21 for the year. The proposed budget is an increase of approximately 3.3 percent over last year.

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Gasparini said the value of the average home in Fairfield has gone up from $529,188 to $539,753. The new local tax rate is .506, an increase of .016 from last year’s rate of .490. The proposed new tax rate, which includes the municipality, schools, county, library and open space is $2.137.

The total budget is $26,640,749.72 of which $16,295,430.12 is to be raised through property taxes.

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