LONG BRANCH: The municipal portion of city residents' tax bills will not be increasing this year for the first time in several years.
The Long Branch municipal budget was unanimously introduced during the March 28 Long Branch Council meeting.
The 2017 budget totals $55,961,122 and of that total, a $3,947 increase over the 2016 budget. The amount to be raised by a taxation is $37,705,884, a zero percent increase over 2016's total.
The tax rate is staying flat at 83 cents per $100 of assessed value.
"For the average home owner, if your home's assessed value didn't change, your municipal tax bill will remain the same," Long Branch CFO Michael Martin said.
Martin said one of the main reasons for the taxes staying flat this year is the fact that the city's revaluations increased by $61 million.
He added that benefits and insurances also remained unchanged, as did worker's compensation and liability insurance.
One of the biggest increases in the budget were pensions for police officers and firefighters which went up $63,500. Pensions for all other municipal employees also increased by nearly $100,000.
A public hearing on the budget will be held on during the April 25 council meeting. Following the hearing, the budget will be up for adoption.
You may not be getting all you can out of your browsing experience
and may be open to security risks!
Consider upgrading to the latest version of your browser or choose on below: