ENGLISHTOWN — The Englishtown Borough Council has introduced a $1,953,828 municipal budget for 2012. A public hearing on the budget will be held in May on a date to be determined, according to Borough Administrator Laurie Finger.
The budget will be supported by the following revenues: a local tax levy of $1,153,801, state aid of $142,206 and the use of $265,00 in surplus funds (savings).
After using the $265,000 in surplus funds in the budget, the borough will be left with $40,871 in its savings account, she said.
According to information provided by Finger, the municipal tax rate in Englishtown will increase from 40.5 cents to 46.2 cents per $100 of assessed valuation.
With a rate of 46.2 cents in place, the owner of a home in Englishtown that is assessed at $100,000 will pay $462 in municipal taxes in 2012 (up from $405 in 2011).
The owner of a home assessed at the Englishtown average of $330,000 will pay $1,524 in municipal taxes in 2012 (up from $1,336 in 2011).
The owner of a home assessed at $450,000 will pay $2,079 in municipal taxes in 2012 (up from $1,822 in 2011).
Finger said the 2012 budget retains the same number of employees that were on the borough’s rolls in 2011.