During their regular meeting on August 17, 2020, the Borough commissioners introduced the municipal budget for 2020.
The budget proposes total expenditure of $19,181,684.00, of which $12,232,816 will be raised through property taxes. The proposed local purpose tax rate is 0.5284 cents per $100 of assessed property valuation.
For the owner of a property assessed at the borough average of $ 488,481, local purpose taxes will be $2,581, an increase of $26 over last year’s taxes.
Two other examples:
- Property value = $ 244,241. Taxes = $ 1,291. Increase = $14.
- Property value = $ 732,722. Taxes = $ 3,872. Increase = $40.
Local purpose (municipal) taxes represent a little over 17% of the total property tax bill.
Apart from employee salaries, benefits, and pension payments ($8,634,733), which make up 47% of the budget, the largest expenditures include stormwater improvements ($2,995,000) and the Borough’s annual road program ($2,240,000).
The Budget Recapitulation document is available HERE.
A public hearing on the budget will be held during the Commissioners’ regular meeting on Tuesday, September 22, 2020, after which the Commissioners may vote to adopt.