LAKE COMO — The 2022 municipal budget was adopted by the borough council on Tuesday, with no changes made from its May 31 introduction.
The total appropriation amount for 2022 is $4,095,255, an increase of $188,723 over last year’s total of $3,906,532.
The 2022 tax levy is the same as last year, in the amount of $2,813,654.
However, the tax rate has decreased from last year by 18.2 percent. Last year, the tax rate was .5630 and it decreased to .4604 for the 2022 budget.
However, the budget states that the total assessed value of properties in the borough rose 22.3 percent, from $499,638,100 to $611,123,400, which is an increase of $111,485,300.
A residence assessed at $1,000,000, for example, would be paying $4,604 in municipal taxes for the 2022 budget, compared to last year, when a $1,000,000 residence paid $5,630 in municipal taxes.
Councilman Douglas E. Witte explained on May 31 that, “This budget includes the additional $150,000 that we use for emergency services. We were still able to keep it the same as last year.”
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