Madison Approves 2019 Budget With No Municipal Tax Increase

MADISON, NJ - There were no surprises in the Madison Borough Council meeting Monday as the governing body voted 6-0 to adopt the 2019 budget that was introduced March 25.

The budget includes a zero percent tax increase and is set at $32,213,859.08.
The average home is assessed at $667,200 in Madison and will pay the same $2,888 that they paid in 2018. The municipal tax rate is $415 for each $100,000 of assessed value, the same as last year.

The budget shows a surplus of $5,090,000.25 and Mayor Robert Conley appointed a committee comprised of council members Maureen Byrne, Patrick Rowe, Carmela Vitale and former councilman Ben Wolkowitz to analyze it.

Madison Chief Financial Officer Jim Burnet noted that the size of the surplus was unique.

You can look over the complete budget document here, and view the simplified adopted version here.

Those interested can also view the entire council meeting online here.

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