Little Silver’s tax rate is going up. (Photo by Dustin Racioppi; click to enlarge)
By DUSTIN RACIOPPI
A year after declining, taxes are about to rise in Little Silver.
The borough council introduced its 2011 budget Monday, a $10.1 million spending plan that will boost the tax rate 2.6 percent, or 1.3 cents per $100 of assessed property value. At 51.1 cents, that equates to a $65 annual increase for a home assessed at the town average $500,000, said Chief Financial Officer Laura Geraghty.