Politics & Government
Caldwell Municipal Budget Adopted With Zero Tax Increase
The flat municipal tax rate comes despite more than $250,000 in lost municipal revenue due to the coronavirus crisis, a council member said.
CALDWELL, NJ — The municipal portion of local property taxes in Caldwell will stay flat under the latest borough budget, which was unanimously adopted last week.
During their Oct. 6 meeting, the council adopted a 2020 municipal budget with a flat tax rate. The $13 million budget will require about $7.8 million to be raised by taxes, meaning a municipal tax bill around $805 per $100,000 of assessed value – the same as last year, The Progress reported. >> Read the full article.
Councilman Jonathan Lace thanked Borough Administrator Tom Banker for his work on the budget, and said the zero percent tax increase came despite more than $250,000 in lost municipal revenue due to the coronavirus crisis.
Find out what's happening in Caldwellsfor free with the latest updates from Patch.
“This is no small feat,” Lace wrote.
Send local news tips and correction requests to eric.kiefer@patch.com
Find out what's happening in Caldwellsfor free with the latest updates from Patch.
Don’t forget to visit the Patch Caldwells Facebook page. Learn more about posting announcements or events to your local Patch site. Sign up for Patch email newsletters.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.