Belmar To Decide Zero Percent Tax Increase Wednesday

This story is updated here.

Belmar taxpayers would face a zero percent tax increase under the proposed 2013 municipal budget. Borough Council will hold a budget hearing Wednesday July 3.

Belmar's municipal tax rate equals 65 cents per $100 of assessed valuation. A home assessed at the borough average of $336,003 would face a municipal tax bill of $2,183 annually.

This is the third year Belmar has proposed a zero percent tax increase.

However, the total budget is growing. At $24.65 million, the 2013 is about $4.1 million more than 2012.

A look at the numbers that make up the 2013 budget:
$7.2 million will be raised through local taxation. 
$700,000 from the surplus account applied to the budget, leaving $697,703 in the surplus account.
$4.5 million in a FEMA Community Disaster Loan

The public hearing for the budget will come at Wednesday's Borough Council meeting, which begins at 6 p.m. in borough hall.

Also on the meeting agenda is a discussion on plans for the boardwalk pavilion, an ordinance approving a redevelopment project, and another ordinance amending zoning laws defining impervious ground.