BELMAR — The mayor and council held a public hearing on the proposed 2022 municipal budget during Tuesday night’s council meeting.
The proposed appropriations total $30,095,049, nearly a $1 million increase from last year, with a general budget of $19,904,344.
However, there will be a slight decrease in the municipal tax rate, according to borough officials.
With the proposed budget, there will be a tax rate of .467 per $100 of assessed value, a 1.04 percent decrease from last year. Additionally, the average residential assessment is set for $577,709. The average total tax per residential property is $7,862, including county, school and library taxes. The average municipal tax per residential property is $2,749.
“What we have this year is a budget that provides for a slight decrease in the municipal tax rate,” said Belmar CFO Lorraine Carafa. “This would be the third year in a row… the mayor and council has had either a zero or a slight decrease in the municipal tax rate.”
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