Matawan to Introduce $10.5M Budget at Council Meeting Tuesday

The Matawan Borough Council will introduce a $10,554,843.34 total general municipal budget at their meeting Tuesday, according to Borough Administrator Louis Ferrara. 

The budget, which is available on the borough website, is approximately $79,442 below the approved 2012 municipal budget. The tax levy would also see a decrease of about $263,600 to $7,484,009.33 if the budget is adopted as introduced. The borough would also raise $325,031 in taxes for the Matawan Aberdeen Public Library.

Under the 2 percent cap, the borough is permitted to raise the tax levy to $7,644,544, however they are below that amount by about $160,535.

Although the budget may decrease, the tax rate may see a slight increase from 70.9 cents per $100 of a home's assessed valuation to 71.89 cents per $100. This means a home assessed at $330,000 would see an annual municipal tax bill of $2,372.37, or an increase of $32.67 per year. This figure does not include school, county, or state taxes.

The borough council will introduce the budget at their May 7 meeting, which will begin at 7 p.m. at the Matawan Municipal Community Center. 

A public hearing on the budget is scheduled for June 6.