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Borough 2019 budget balanced

 

April 26, 2018

The Borough Assembly deliberated over the first draft of the fiscal year 2019 budget presented Friday afternoon by Finance Director Jody Tow.

Tow told the assembly the property tax mill rate decreases this year from 11.6 mills to 11.38 mills. The millage rate is the amount per $1,000 used to calculate taxes on property. Absent voter approved levies for the school, aquatic center, assisted living and library debt, the mill rate is below the required cap (10 mills) at 9.2 mills.

Tow said the mill rate dropped because the Dept. of Education reimbursed some bond debt from past improvement proje...



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