City council adopts 2013 amended budget
Residents will see an average tax increase of $235
The city council voted Wednesday to adopt an amended budget that includes a tax increase just under 9 percent for homeowners.
The average tax increase is $234.36. This number is based on the assessment of a residential home valued at $84,000, which is the average value of a residential property in the city, according to Richard J. Gartz, acting Chief Municipal Finance Officer.
When the budget was introduced in June, a proposed average tax increase of $333 was originally included.
Since the budget’s introduction, an essential services grant valued at $350,000, additional transitional aid of $475,000 and an increase to the parking utility of $140,o00 along with other monies helped to bring down the tax increase to 29 cents per $100 of assessed value, rather than the anticipated 39 cent increase.
A loss of ratables due to a hit taken from tax appeals “directly attributed” 12 cents to the increase, city manager Terence Reidy previously told the Sun.
The vote was split 3-2. Mayor Myra Campbell and Councilman John Moor voted no.
“I thought it would be too much of a tax increase for the residents,” Campbell said.
“I think it is a terrible budget,” said Moor. “It’s one of the biggest tax increases in years.”
Moor said there is no money included in the budget for raises, buyouts or security cameras proposed for the housing authority buildings and other locations in the city, which when combined will add up to around a 1.3 million dollar “shortfall” by his estimation, he said.
“Which we will have to bond for in January,” he said. “It’s a big tax increase still out there, floating.”
The general appropriations for the amended budget total $41,222,728.21 million dollars.
————————————————————
Follow the Asbury Park Sun on Facebook and Twitter.