Interview conducted April 24, 2024 @ 10 am
ROCKLAND, NY – Ten years ago in 2014, this county grappled with a crippling $240 million debt and a deficit of $138 million, earning it the title of New York State’s most fiscally-stressed county, and a credit rating just a notch above junk status by the International rating agency, Moody’s.
After a decade of financial challenges, Rockland County has reached a significant milestone by making the final payment on a $96 million bond issued to resolve its staggering long term deficit.
In a recent interview, County Executive Ed Day shared detailed insights on the County’s journey from financial recovery over the past 10 years, as well as addressing several new challenges – such as housing demand in the County, as well as the MTA’s new Manhattan congestion pricing plan of $15 below 60th street in NYC.
Im the interview, Day recounted Rockland’s recovery from financial distress, emphasizing the county’s consistent repayment of a significant deficit bond without overburdening the taxpayers. “We’ve gone from worst to first here in Rockland County,” Day stated, referring to the turnaround from a $138 million deficit to a now-strong surplus. This fiscal rebound was achieved through increased governmental efficiency and avoiding excessive taxation, despite some politically unpopular decisions like a one-time 5% property tax hike several years ago to cover essential services.
Day also highlighted recent tax reductions, including a 2% county property tax cut this year, with hopes to continue these reductions. “It’s time for governments to live within their means,” he remarked, underscoring Rockland’s commitment to fiscal responsibility.
The conversation moved to the controversial congestion pricing plan proposed for Manhattan, which Day ardently opposes.
Day criticized the Albany-driven plan as a significant financial burden unfairly imposed on Rockland residents, noting that the county contributes significantly more to the MTA than it receives in services. The County has filed a lawsuit challenging the MTA’s authority to implement the congestion pricing, standing firm in its demand for fair treatment.
Currently, despite the County’s prior submission of three names for MTA Board representation, there has not been sufficient response. Thus, the lawsuit.
On housing, Day expressed concerns about rising prices within Rockland, where soaring housing prices increasingly outpace the average resident’s ability to afford a home. He detailed efforts to collaborate with municipalities to develop local solutions that reflect community needs without overstepping county authority. “Doing nothing is not an option,” Day asserted, stressing the importance of finding sustainable housing solutions that support the county’s diverse population, including essential workers and seniors.
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