OCEANPORT: The borough council has introduced its municipal budget and it appears that it residents will have a slightly higher tax bill in 2014.
Although the municipal budget now totals over $7.8 million, down from $9.4 million in 2013, the 2014 municipal tax levy will be $5.35 million, compared to $5.18 million last year.
The proposed tax rate has been set at 50.8 cents per $100 of assessed valuation, meaning the owner of a home assessed at average value of $435,124 would pay $2,253 in municipal taxes in 2014.
The largest increases in the budget from 2013 to 2014 are capital projects, which jumped from $56,000 to $75,000 and debt service which increased from $972,347 to $1,018,738.
A hearing on the budget will be held at Maple Place School Thursday, April 3 at 7:30 p.m. The council will likely adopt the budget at that time, unless it is decided that it needs refinement.
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