With the upcoming Paramus Council elections drawing the attention of notable political players throughout the state, the municipality’s current leadership just got a big win. Moody’s Investors Service just upgraded Paramus’ bond rating to AAA, the highest classification.
Mayor Rich LaBarbiera credit’s the Paramus First Team—the Democratic leadership—as the reason for the improved rating and the two-year reduction in property taxes.
“This is the second time our bond rating has been upgraded since the Paramus First Team has been in office and it shows once again that we are doing everything we can to put our taxpayers first,” said Mayor LaBarbiera.
Paramus has a surplus of over $12 million. The town is a critical tipping point in the upcoming election. Moves like these—which reflect positively on the Democratic leadership—may help secure Democratic wins in the district.
In the upcoming council race, budget chair and council president Pat Verile is running for reelection. Holly Tedesco-Santos, though she has not been elected before, is also running on the Paramus First ticket.
“Above all else our job as elected officials is to make sure we manage taxpayers’ money well and this bond rating increase is a testament to our success,” said Verile in a statement.