BELMAR — The 2018 municipal budget has been approved by the Belmar Borough Council and there will be no new taxes for residents of the borough.
The public hearing and adoption of the 2018 borough budget took place after borough Chief Financial Officer Robbin Kirk presented the budget to the mayor and council.
The council adopted a $15,332,054 budget, which is a $323,083 increase from last year’s budget of $15,008,971.
The amount to be raised by local taxes for municipal purposes is $7,199,367 for 2018. This is a decrease of $759 from last year’s tax levy of $7,200,126 raised for municipal purposes.
The budget will also use $1,300,210 from surplus, about the same amount as last year. This will leave $853,379 in surplus.
However, according to Borough Administrator Colleen Connolly, the borough is always adding to the surplus and strives to add more than is taken out per budget.
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