87° Mostly Cloudy

RED BANK: PROPERTY TAX UP 4.7 PERCENT

Michael Ballard, who heads the finance committee, with Mayor Pasquale Menna at left, on election night last November. (Photo by John T. Ward. Click to enlarge.)

By JOHN T. WARD

Red Bank property owners may see a 4.7-percent increase in the local portion of their tax bill this year under a budget introduced Wednesday night.

The hike was driven by a drop in revenue, said Councilman Michael Ballard, including a halt by Riverview Medical Center of its customary payment in lieu of taxes.

Read More »

RED BANK: SALE PUTS BUILDING ON TAX ROLLS

The former VNA headquarters building on Riverside Avenue has been acquired by an office developer. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

HOT-TOPIC_03Red Bank’s municipal coffers are about to be bolstered by the addition to the tax rolls of a major office building.

“It is now taxable,” Mayor Pasquale Menna said Wednesday about the former VNA Health Group headquarters, following a report by app.com that the property had been acquired by a private developer for $7.4 million.

Read More »

RED BANK: NOW TAKING TAX PREPAYMENTS

By JOHN T. WARD

Red Bank has joined Belmar, Jersey City and other New Jersey municipalities in encouraging residents to consider reducing the impact of the newly adopted federal tax plan on their wallets.

How? By prepaying local property taxes before the end of 2018.

Read More »

PRESS: TAX LEVY EDGES UP IN LITTLE SILVER

Property taxes are set to rise “a fraction of a percent” in Little Silver this year, the Asbury Park Press reports Tuesday.

The owner of a home assessed at a borough-average $500,000 will see a $35 increase for the local portion of the overall levy, excluding school, Monmouth County and Open Spaces taxes, the Press reports.

Read More »

AFTER TWO DROPS, RUMSON TAX RISES

rumson-councilThe Rumson Borough Council met at a special meeting Tuesday afternoon to finalize the budget. (Photo by Dustin Racioppi; click to enlarge)

By DUSTIN RACIOPPI

Unlike its neighbors to the west, Little Silver and Fair Haven, Rumson won’t be able to pull off one of those improbable shrinking New Jersey budgets in 2010.

After two years of holding the line on taxes, Rumson officials, faced with declines in revenues and increased costs, moved forward on passing a $15.2 million budget that includes a 6.9-percent spike in property tax bills.

Read More »