N. Caldwell's Budget Poses 1.11% Tax Increase

North Caldwell Mayor Mel Levine introduced the 2010 municipal budget during Tuesday night's council meeting that will pose a 1.11 percent increase to residents.

The budget of $5,672, 716.01 with a tax levy increase of approximately $91,000 will result in no layoffs or furloughs to municipal employees and health care contributions will continue to be provided.

All municipal employees, including members of the police department, have agreed to a salary freeze to help offset the reduction of $140,000 in state aid.

"This budget, like most budgets, are revenue deprived. Unfortunately, the only way to make up for revenue is to cut expenditures or raise property taxes," Borough Administrator Joseph Kunz said. 

"With the increase of 1.11 percent, we have done as much as we can. In fact, we have maximized all the revenue we can, and because the revenue went down, we are not able to regenerate our surplus, so we do not have as much surplus as we have had in the past."

A public hearing for the budget, which includes water utility appropriations that have slightly increased, will be held on June 29 at 8 p.m.