Borough to Cut Planned Property Tax Increase By $72

While no action was taken during Tuesday afternoon's , Mayor James Maley said the municipal budget's original $150 annual property tax increase will be reduced to $78 per year.

The amended $78 average applies to the borough's average assessed home value of $232,566.

"We could not take action today (Tuesday), because the state reviewer who was supposed to look at our (budget) amendment has been out sick," said Maley. "But we've been told it will be reviewed by the end of this week, and we'll have another special meeting on Friday."

The new meeting, said Maley, will take place at 3 p.m. this Friday, May 27.

"(On Friday), we'll formally introduce the (tax reduction) amendment," said Maley. "And the public hearing on that amendment, and the budget adoption, will be held next Wednesday, (June 1) at 11:30 a.m."

Maley said the $72 tax reduction is not a result of the police union's , of a zero percent salary increase and concessions. In fact, Maley said the contract has not yet officially been signed.

"The form of the contract (the borough) sent (the unions) was a paper, which we sent Friday," said Maley. "And we still haven't heard anything back.

"The (property tax reduction) really doesn't have anything to do with the union contract," he said. "Because, when we formed our original budget, we'd already put police at a zero percent increase. But the concessions they agreed to did save us about $40,000."

Maley said the tax reduction comes from reviewing budget line items and making individual changes.

Both the Friday, May 27 and Wednesday, June 1 meetings will be held on the third floor of Collingswood Borough Hall, located at 678 Haddon Ave. A copy of the borough's special meetings announcement can be found in this story's photo gallery.

(Ed. note: The original headline of this article, "Borough to Lower Property Taxes By $72," was updated to provide clarification.)

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