SPRING LAKE HEIGHTS — A tentative budget of $8,078,990 was introduced by the Spring Lake Heights borough council at its meeting on Monday, up approximately $112,941 from 2022.
Based on an average property assessment of $750,000, the local tax is estimated to decrease by 9.43 percent in the 2023 fiscal year. However, as Mayor Christopher M. Campion said, “There is a tax rate decrease this year, but as we know, if your assessed value goes up, it could vary.”
This may be true for some residents, especially as the net valuation of Spring Lake Heights is projected to be around $1.8 billion, an increase in value of over $266 million from 2022. The total amount to be raised by taxes totals a projected $6,322,205 compared to $5,944,098.
Councilman John Casagrande made a motion to introduce the budget, seconded by Councilwoman Sara King. Before proceeding with the budget introduction, Mayor Campion took time to thank the people who compiled the budget for their commitment to economic stability in the borough.
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