Politics & Government
Proposed Budget in Oceanport Increases Tax Rate Less than 2 percent
The proposed budget in Oceanport would mean a $40.50 increase in taxes for a house assessed at $450,000, the borough average.
The Oceanport Borough Council has introduced a budget for this
year that will mean an increase in the municipal tax rate of less than
one cent.
Each property owner in the borough will see his or her taxes increase by 1.8 percent, compared to the previous year, Councilman Joseph A. Irace reported at the Oceanport Borough council meeting on Thursday, March 17.
For example, the assessed value of the average home in Oceanport
is now $450,000, said Irace, who chairs the council's finance
committee. The taxes on that house would increase under the proposed
budget by $40.50 this year, to $2,286. Per month, the tax increase is
only $3.37, Irace said.
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The budget, which will raise $6.96 million, will mean no cut in
services for residents, said Irace. He added that he was proud that
the governing body has kept the lid on spending, except for increases
mandated by labor contracts.
The public hearing on the proposed budget is scheduled for April
21 at 8 p.m. in Borough Hall.
