EATONTOWN: The municipal budget has been adopted by the borough council, and as a result, the municipal tax rate will increase by 2.5 cents over last year.
The budget totals $23,359,006 and of that amount, the portion to be raised by local taxes is $15,917,722, an increase of 2.9 percent over 2013 total.
The proposed 2014 tax rate is 78.6 cents per $100 of assessed value, which represents an increase of 2.5 cents over the 2013 rate. The owner of a home valued at the borough average of $300,000 will pay $2,358, an increase of $75 over the 2013 amount of $2,283. The 2013 rate increased by $167 over the 2012 rate.
Eatontown Mayor Gerald Tarantolo thanked the council for their hard work on the 2014 municipal budget.
"I think we have a very stable budget," Tarantolo said.
Eatontown Councilman Anthony Talerico said their have been no changes to the budget since it was introduced in March.