3.7 Cent Tax Rate in Proposed Englishtown Budget

Englishtown’s 2013 budget, introduced at Monday night’s Council meeting, means a slight raise in taxes for the Borough.

The 2013 budget for Englishtown Borough calls for $1,266,403.87 to be raised by taxes, which is 0.0368 cents. This is approximately a 3.7 cents on every $100 of assessed property value. 

This budget is right at Englishtown’s levy cap. The levy cap balance is $19, according to Borough Administrator and CFO Laurie Finger. In 2012, the Borough did not go to cap and the remaining balance of $13,000 was used within the 2013 budget. Since this budget is going to cap, the Borough does not have any bank to rely upon for next year’s budget, Finger explained.

The 2013 budget increased by about $101,950 from last year. However, there was a total of $105,751 in appropriation increases that led to the tax increase for this year.

These appropriation increases include the Monmouth County Rehabilitation Contract (COAH), reserve for tax appeals, debt service (tax appeal refunding bond), the capital expense of improving the Englishtown Municipal Building roof, a 5 percent increase in insurance, and the police and fire retirement system (an increase in pension). Finger said that all of these are uncontrollable costs. 

The only way for the tax rate to decrease, according to Finger, would be if the Borough deferred more school taxes. The 2013 tentative budget currently defers $20,000. During the workshop portion of the Feb. 27 Council meeting, Finger said that the tax increase could be reduced to 3 cents if the Council chose to defer $40,000, but Council members agreed that that was too much money.

Additionally, the amount of surplus in the 2013 budget is the same amount that has been left in previous budgets.

A public hearing on the 2013 budget will be held on April 24.