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Oceanport Council Adopts Municipal Budget

OCEANPORT: The borough council adopted the 2014 municipal budget during its April 3 meeting and no changes were made since its introduction last month.

The municipal budget  totals over $7.8 million, down from $9.4 million in 2013. The 2014 municipal tax levy is $5.35 million, compared to $5.18 million last year.

The 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.

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