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.
ADVERTISEMENT
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.”
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 Belmar 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)
