Fair Haven propery owners will see no change in the local portion of their property tax bills this year, the Asbury Park Press reports Tuesday.
For the fifth consecutive year, according to Press reporter Larry Higgs, the borough council has introduced a spending plan that either reduces or maintains the municipal slice of property levies excluding school, Monmouth County and Open Space taxes, that is.
Like the 2011 rate, this year’s is anticipated to be 45.6 cents per $100 of property assessment, the Press reports.
Council President and finance committee chairman Jon Peters attributed the feat to an increase in state aid, where a drop had been expected, and continued savings from the switch last year to private residential trash pickup, which avoided $118,000 in capital expenses that would have been required to pay on debt for new garbage trucks.
From the Press:
He cautioned that despite the borough budget coming in $60,000 less than the past year that property owners were likely to see an increase in the overall tax bill because the apportionment of costs between Rumson and Fair Haven for the regional high school will increase to 29 percent because property values in Fair Haven went up. Peters estimated that factor could add $157 to the tax bill of the average home.
I dont want you to have sticker shock when the tax bills come in, he said. But the borough portion (of the tax bill) is flat.