Councilwoman Linda Schwabenbauer, who heads the finance committee, says there’s been a “severe” drop in revenue from last year along with an increase in expenses. (Photo by John T. Ward. Click to enlarge)
By JOHN T. WARD
The first majority-Republican Red Bank budget in a generation is set to make its debut this week, and it comes with a likely tax hike.
While officials are hopeful they can trim the increase, the draft budget shows a 5.5-percent jump in the municipal levy, or roughly $115 a year for the owner of a residential property assessed at the average $354,497, Councilwoman Linda Schwabenbauer tells redbankgreen.
One way to soften the impact, she said, is to extend the hours for which parking fees are collected.