Verona Officials Hold the Line on Taxes

Verona residents won't have to pay more in real estate taxes in 2012.

On Tuesday, officials approved a $1.1 million budget that doesn't raise the real estate tax millage rate. Councilman Stan Adamski was absent.

The current millage rate is 8.0 mills, meaning a resident pays $800 for every $100,000 of assesed property value.

The preliminary budget included a . The council finance committee met on Dec. 21 to work out the kinks and balance the budget.

Currently, revenues are $1.1 million and expenditures are $1.08 million, leaving the borough with a net income of $41,467 at the end of 2012.

Borough solicitor Craig Alexander said because this year was an election year, officials have until mid-to-late January to open the budget and make some changes.