Politics & Government
Matawan to Hold Public Hearing on Proposed Municipal Budget
Matawan Borough Council will meet tonight at 7 p.m. at the municipal center on Broad Street
The Matawan Borough Council hold a public hearing on the $10,606,136.50 proposed municipal budget for 2012 at 7 p.m. April 17 at the . The proposed budget is a $350,788.57 increase from the 2011 municipal budget.
The tax levy, including $335,420 in taxes to support the Matawan Aberdeen Public Library, would be $7,719,470. This would be an increase of $267,814 from the 2011 municipal tax levy, which was $7,451,655. However, the borough is still under the allowable 2.5% tax levy cap by $777,304.
The increased amount to be raised by taxes in conjunction with decreased property values would result in a tax rate of 70 cents per $100 of assessed home valuation. This means that the owner of an average home in Matawan, valued at about $330,000, would pay an additional $99 a year in municipal taxes. The 2011 municipal budget had a tax rate of 67.4 cents per $100 of assessed home valuation.
Find out what's happening in Matawan-Aberdeenwith free, real-time updates from Patch.
The proposed 2012 budget includes an additional $30,000 for capital improvements and an additional $289,934 in debt service.
The budget was introduced at the borough council's March 20 meeting.
Find out what's happening in Matawan-Aberdeenwith free, real-time updates from Patch.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.