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Eatontown council adopts 2025 municipal budget; small tax-rate technical increase explained
Summary
The Eatontown Mayor and Council adopted the boroughs 2025 municipal budget after a public hearing. Officials said the borough remains under state caps; a technical change in net valuation caused a 0.2-cent increase in the estimated tax rate that translates to about $0.38 for the average property.
Eatontown The Mayor and Council adopted the 2025 municipal budget Wednesday after a public hearing and roll-call votes.
The budget keeps the borough within the states appropriation and tax-levy caps, officials said, but a final decrease in certified property valuations raised the boroughs estimated tax rate from 49.8 cents to 50.0 cents per $100 of assessed value, a change municipal staff described as a two-tenths of a cent technical increase.
The change matters to property owners because the drop in total net valuation means the same amount of municipal taxes must be spread over a slightly smaller tax base. Staff said the net effect for an average assessed home would be roughly a $0.38 increase, and that over the past three years the average assessed home has seen a net municipal-tax decrease of about $31.
Staff presentation and council discussion
A staff presenter identified in the meeting as Bob…
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