The city council at its meeting last week approved amendments to the municipal budget prompted by changes in state aid numbers.
After the amendments, the budget bears a 3.6-percent tax levy increase, city manager Terence Reidy [above] said, which translates to an increase of 11.5 cents per $100 of assessed property valuation. The average household will see an increase of about $200 a year, Reidy said.
The 2012 municipal budget was introduced on Feb. 27 and approved on April 4. The state had not yet notified the city how much transitional aid it would receive, so the budget reflected a 17.6-percent tax increase.
The city then learned from the state that $6 million of transitional aid would become permanent state aid. The department of community affairs [DCA] made that money permanent because “the city’s history of how we have managed our transitional aid was exemplary,” city manager Terence Reidy said.
The city will also receive $3.5 million in transitional aid this year.
