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Long Branch Adopts $55 Million Municipal Budget

LONG BRANCH: The city council unanimously adopted the 2016 municipal budget during its June 14 meeting.

The budget totals $55.7 million of which $37.2 million will be paid by local taxes, an increase of almost $2 million from 2015.

The tax levy has been set at $37.2 million, an increase from the $35.8 million levy last year.

Long Branch Chief Financial Officer Michael Martin has said that a property owner at the city average will pay an estimated increase of $162.95 in taxes; a total which includes municipal, county, school, library and open space taxes. The assessed value of the average home in the city has risen from $375,000 to $413,000 in 2016 due to the new county assessment program.

Salaries continue to be the largest expense in the city's budget, totaling $24.4 million.

Read more from: Long Branch

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