City taxes to decrease, on average

The owner of a property assessed at the average of $330,775 will pay $575.55 a year, down from $578.15 last year, under the budget approved by the City Council April 17.

By: Linda Seida
   LAMBERTVILLE — Despite the city’s rising fuel costs and other expenses, the average property owner will see a slight reduction in taxes for municipal services because of a $1 million surplus in the city’s coffers.
   The owner of a property assessed at the city average of $330,775 will pay $575.55 per year in municipal taxes under the $3.7 million budget passed for 2006. Last year, the owner of a property assessed at the average of $290,525 paid $578.15 per year for municipal services.
   The City Council passed the budget last week with no comment from either the public or council members.
   "This budget allows us to maintain services, give raises, improve the infrastructure and not cost the average taxpayer any more money," Mayor David Del Vecchio said later.
   The new tax rate is 17.4 cents per every $100 of assessed valuation. Last year, the tax rate was 19.9 cents per every $100 of assessed valuation.
   The tax levy, which is the amount in the budget raised through taxes, is $1,125,977. Last year, the tax levy was $1,127,484.
   The $1 million surplus includes $250,000 in municipal aid from the state. Sources of revenue include more than $185,000 from parking meters, almost $220,000 from municipal fines and about $98,000 from the hotel and motel occupancy tax.
   Another $26,000 represents half of Community Investment Strategies’ pilot agreement with the city for Heritage Village, the senior center that opened last year on Route 518. Investments account for $175,000.
   Expenses include an increase of $1,500 for street lighting for a total of $26,500. Fuel oil expenses will rise from about $6,100 to $7,400. Gasoline will cost the city almost $5,000 more for a total of almost $24,000. Diesel fuel will increase almost $4,000 to $13,961.
   Police salaries, which are contractual, will rise $19,000 for a total of $784,063. Pension costs have risen by $9,000 to more than $54,000. Expenses also include $80,000 for debt payment and interest.