Where can I access third-party financial reports on incorporation? Multiple firms with significant experience in municipal finance and operations have completed reports since the incorporation effort began in 2016. We encourage all stakeholders to read the reports in their entirety.
On April 1, 2024, the independent, nonprofit Center for Governmental Research (CGR) completed its State of New York-funded study of the fiscal and operational impacts of Edgemont’s potential incorporation:
In 2017, the EIC engaged consultants Zions Municipal Finance and Novak Consulting/Raftelis to conduct an initial feasibility study:
Is Edgemont financially viable as a self-governing village? Yes. Both studies concluded that an incorporated Village of Edgemont could maintain or improve upon current service levels at or about existing Town of Greenburgh unincorporated area tax rates.
Would an incorporated Village of Edgemont have to duplicate the Town’s services and infrastructure? No. As set forth in Base Scenario #1 of the CGR report, which reflects the EIC’s vision for the new village, Edgemont would utilize a so-called “skinny” form of government and contract with the Town for police, EMS, DPW/highway, sanitation, and library rather than inefficiently duplicating those services.
In turn, Edgemont Village would pay the Town over $15 million for such services using the same charging methodology (property valuation) in place now.
This table shows how our current property tax bill is broken down. The yellow line (15.5%) is the only component potentially affected by incorporation. That portion of our tax bill is currently paid to the Town of Greenburgh unincorporated “B” budget and primarily funds major services, including police/EMS, DPW/public works, sanitation, planning and zoning, building permits, and parks and recreation.
What happens to my taxes and services upon incorporation? If we vote to become a village, the $18 million+ revenue the Town of Greenburgh currently receives from Edgemont for unincorporated area services would fund the Village budget. The composition of our tax bills would be altered somewhat, but the total tax rate would change only minimally per CGR’s Base Scenario #1 analysis.
(1) As a village, Edgemont would no longer pay the Town Unincorporated “B” budget tax; (2) the Town would establish a Police Services Fund to account for continuation of police/EMS to Edgemont at current assessed valuation-based charges; (3) the Greenville Fire District would become the Village of Edgemont Fire Department; and (4) the village tax would cover all services including fire and excepting police/EMS.
Will Greenburgh experience tax increases and service reductions if Edgemont incorporates? CGR found that if Town and Village officials work together as described in Base Scenario #1 to maintain police, EMS, DPW/highway, sanitation, and library services, Greenburgh’s unincorporated area residents would experience no tax increase and no service cuts to those Town departments. Further, the Town would experience only minor reductions to other departments (e.g. 7% to Building, 4% to Parks and Recreation) commensurate with their smaller service area.
That’s because, as mentioned above, over $15 million of the current $18 million of Edgemont funding would return to Greenburgh in the form of intergovernmental revenue pursuant to Town/Village shared services agreements.
CLICK HERE FOR ADDITIONAL INFORMATION ON POST-INCORPORATION SERVICES