AVON-BY-THE-SEA — The Board of Commissioners adopted a municipal budget of $5,395,354 for 2022 after holding a second reading and public hearing at the municipal marina on Monday night.
Officials said $3,606,882 will be raised by property taxes for municipal purposes, while $435,179 will be raised for library purposes.
However, the total tax levy estimated for 2022 will generate a .294 percent rate compared to last year’s .430 percent rate under the 2021 budget of $5,343,178.
ADVERTISEMENT
Commissioner Bob Mahon said the lower tax rate is due to a revaluation of homes conducted in the borough during 2021. “The tax rate is lower because the total assessments are higher,” he said.
Last year’s municipal budget saw $4,200,257 raised by property taxes.
This year’s budget will use $775,000 of the borough’s surplus while last year saw the borough use $525,000.
The borough’s beach budget totals $2,177,554 while last year’s was $1,950,000.
John Antonides, the borough’s chief financial officer [CFO] and Rich Hellenbrecht, the borough’s auditor, worked closely with the commissioners in preparing the budget, Commissioner Mahon said.
Mr. Antonides listed the challenges found in this year’s budget which include fuel cost, solid waste disposal and an increase in debt payments. “All this was done with keeping the rate as flat as possible,” said Mr. Antonides.
This is an excerpt of the print article. For more on this story, read The Coast Star—on newsstands Thursday or online in our e-Edition.
Check out our other Avon-by-the-Sea stories, updated daily. And remember to pick up a copy of The Coast Star—on newsstands Thursday or online in our e-Edition.
Subscribe today! If you're not already an annual subscriber to The Coast Star, get your subscription today! For just $34 per year, you will receive local mail delivery weekly, with pages and pages of local news and online access to our e-edition on Starnewsgroup.com.
 2x2.jpg)
