The Little Silver Borough Council introduced a tentative budget for 2013 that will raise about $6.6 million through property taxes.
Little Silver introduced its municipal budget for 2013 and while there are a lot of variables -- like tax rates and the borough's current revaluation -- to consider, the bottom line is that tax bills should increase about $150 annually for the owner of the average-assessed $500,000 home in town. The borough will raise about $6.6 million of the approximately $12 million general budget through property taxes and another $5.45 million through anticipated revenue other than property taxes, according to Laura Geraghty, Little Silver's chief financial officer, at the March 18 council meeting. Councilman Don Galante explained that the $150 increase would include the entire tax bill -- including local and regional schools, county and open space…
Oceanport's average tax bill percentage increase was well below the state's average; Little Silver's was almost double.
Tuesday, January 15
The average Oceanport and Little Silver taxpayer pays more in property taxes than the statewide average, but Oceanport's average tax bill percentage increase was well below the state's average in 2012. In contrast, the average Little Silver taxpayer's bill increase was almost double the statewide average. The data is contained within a Star Ledger analysis that looked at the average bills in all 566 municipalities in the state in 2012, two years after the Legislature and Gov. Chris Christie enacted a hard 2 percent cap on local budget growth. Oceanport had an average $9,221.06 tax bill in 2012, as compared to the $7,870.28 state average. However, the analysis found that the statewide average growth over 2011 was 1.7, with Oceanport's …