LONG BRANCH: Mayor Adam Schneider says there will be no municipal tax increase for city residents in 2018.
"The budget won't be introduced until the first meeting in March, but for the second year in a row we are anticipating there to be NO tax increase," Schneider said on his Facebook page. "Two years in a row of keeping taxes stable is not an accident, but the result of long range planning."
In 2017, the municipal budget totaled $55,961,122; a $3,947 increase over the 2016 budget. The amount to be raised by a taxation was $37,705,884, a zero percent increase over 2016's total.
The tax rate stayed flat at 83 cents per $100 of assessed value. According to Schneider, that number will not change in 2018.
He said that similar to last year, increasing revenues and level municipal expenditures have helped keep the tax rate stable.
"Operating expenses have been kept level for years even while some costs have increased," Schneider said. "Revenue has increased enough for us to be able to still fund some important projects, like park upgrades, more cops, drainage improvements, and necessary equipment purchases."
The budget will likely be introduced during the March 13 Long Branch Council meeting.