Council unanimously voted to pass the municipality’s operating budget for 2016.
The $16,776,204.79 budget has $12,569,805.40 which will be collected from property taxes. That amount is about $368,000 more than last year’s amount to be raised by taxes – a 3% increase. Even though there is a tax cap levy of 2%, exemptions increased the total tax levy amount. The anticipated revenues for 2016 is $3,843.071.07 which is only around $650 less than the previous year.
The state required minimum for the Roselle Park Veterans Memorial Library this year $363,328.32 is an increase of about $19,500 from 2015 – a 5.7% increase. This amount will also need to be collected from property owners.
The 2015 Operating Budget is an average increase of $93.10 for a house assessed at the new revaluation rate of $253,000 which will bring the average municipal portion of property taxes to around $3,100. The remaining amount of property taxes come from the school district, county, and open space.
During the public hearing, only one resident approached to speak. The Board Of Education (BOE) will vote on their budget on Tuesday, May 10th.
A copy of the 60-page 2016 operating budget is available below: