STONE HARBOR — Borough operations will cost $12.3 million this year, if the spending plan, unveiled by Councilwoman Joanne H. Vaul on March 2, is adopted April 20.
No action was taken at the presentation to Borough Council and the public. Each department chair outlined expenses and projected revenue, if any, for the year.
The budget will be introduced at council’s March 16 meeting at 4:30 p.m. After publication, it will be the focus of an April 20 hearing, also at 4:30 p.m. when the public may question the spending plan.
Changes to the budget, made between the present and hearing date may alter the totals, Vaul said. She chairs the Administration and Finance Committee.
For the owner of a home valued at $1 million, the increase in local purpose taxes would be $120 a year.
The average assessed value in the borough is $1.4 million. Such an owner would pay $172 more taxes than in 2009, when the rate was .19 cents per $100 of assessed value.
Of the budget total, $8.9 million will be raised through taxes, or about $544,000 more than the previous year. To minimize the tax increase, $694,792 of $1.5 million in surplus will be used.
The tax collection rate is 98.3 percent, but that still means $387,771 will be placed in the budget for those who do not pay their taxes on time. That is a $47,917 increase over the previous year.
There will be no increase in the water and sewer rates, which the municipality controls.
See next Wednesday’s print edition for a more detailed story on the budget and meeting.
Contact Campbell at (609) 886-8600 Ext 28 or at: al.c@cmcherald.com
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