Eastchester will save on borrowing costs after Moody's Investors Service assigned the town its highest possible bond rating on July 14.

The Aaa designation — which Moody's also awarded Eastchester in July 2024 — applies to the town's new bond issue and all outstanding debt, allowing the municipality to finance road work, park improvements, and infrastructure projects at the lowest available interest rates.

Moody's cited Eastchester's strong financial position, ample reserves and liquidity, and conservative budgetary operations as the basis for the rating, according to the Yonkers Times.

Town Supervisor Anthony S. Colavita called the rating a direct benefit to taxpayers.

"Paying very low interest on our borrowing saves taxpayer dollars and enables us to do more," Colavita said. "We have never exceeded the tax levy cap and have strong reserves. It's difficult, but we work hard to control spending and keep Eastchester an affordable place to live and raise a family."

The numbers back him up. Eastchester's 2025 budget came in $249,512 below the state's allowable tax levy of $22,912,600, according to Town Board minutes from Tuesday, December 3, 2024. That budget marked the town's 13th consecutive year within New York's 2% tax levy cap. Over the five years preceding that vote, the average annual levy increase in the Town Outside Budget ran below 1%.

The New York State Office of the State Comptroller, which reviews municipal fiscal stress annually, placed Eastchester in its "no designation" category as of December 2024, the best possible outcome on the state's stress scale.

Eastchester's 2023 property tax collection rate was 98.6%, according to the same board minutes. The town's share of a resident's total annual tax bill is roughly 14% for those in the Eastchester School District and about 20% for those in the Tuckahoe School District.

The rating is an administrative action requiring no public vote. No upcoming hearing or milestone related to the bond rating has been announced.