A municipal budget totaling $2.08 million was unanimously adopted by the Allentown Borough Council on April 29, setting the town’s financial course of action for 2014.
The budget carries a $1.4 million tax levy that will help to pay for the operation of the police force, municipal professionals such as attorneys and engineers, and the administration of the municipality.
Allentown’s 2013 budget totaled $2.06 million and had a tax levy of $1.4 million, according to information provided by borough officials.
The tax levy is the total amount of money to be collected from residential and commercial property owners to support the operation of the borough this year.
When the budget was introduced in March, officials said the municipal tax rate would increase from 73.4 cents to 76.2 cents per $100 of assessed valuation.
Upon the budget’s adoption, Chief Financial Officer June Madden said the municipal tax rate will increase from 73.4 cents to 76.5 cents per $100 of assessed valuation.
According to Madden, the higher-thanestimated municipal tax rate resulted from successful tax appeals in recent weeks that decreased Allentown’s overall ratable base by more than $792,000.
In 2013, the average home in the borough was assessed at $288,114 and the owner of that home paid about $2,115 in municipal taxes.
In 2014, the average home in the borough is assessed at $285,971. With a municipal tax rate of 76.5 cents in place, the owner of that home will pay about $2,188 in municipal taxes.
The increase in the tax rate will have a different impact on each property owner depending on the assessed value of the home and/or property. Borough officials anticipate using $171,200 in surplus funds (savings) as revenue in the 2014 budget. That is a $9,000 decrease from the amount of surplus that was used to support the 2013 budget.
According to the budget, the salaries and wages for Allentown’s 26 employees will increase from about $598,370 in 2013 to $613,705 in 2014.
Other operating expenses, which include the funds necessary to run a municipality’s various departments, will drop from $944,564 in 2013 to $876,018 in 2014, according to the budget.
Included in the municipal budget are the water and sewer utility budgets.
According to information provided by the borough, the water utility is expecting to see a nearly $2,000 increase in its yearto year surplus.
The total amount of appropriations for the water utility is expected to decrease from $588,000 to $578,000.
As for the sewer utility, revenues are expected to rise by nearly $88,000, to $861,000. The sewer utility budget accounts for that same increase in appropriations.
Allentown’s balance of outstanding debt combined from the general budget, the water utility budget and the sewer utility budget is $3.4 million.