Newspaper article The Record (Bergen County, NJ)

Tenafly Budget Set to Be Unveiled March 22

Newspaper article The Record (Bergen County, NJ)

Tenafly Budget Set to Be Unveiled March 22

Article excerpt

TENAFLY -- The Borough Council is expected to introduce the proposed municipal budget for 2016 on March 22 and hold a vote of adoption on April 19.

Here are some vital statistics on the new spending plan and how it will affect taxpayers:

What's in it: Appropriations are $28,022,360, an increase of 1.4 percent over last year.

What's new in taxation: The budget calls for an $89 tax increase on the average home, assessed at $818,869. The tax levy is $22,866,473, up 1.9 percent from last year. Total property assessment valuation for the borough is $3,920,745,000.

Notable spending increases: Salaries are up $316,811. The library by $55,224 Capital improvements by $15,000.

A 6 percent estimated net increase in health insurance premiums.

Notable spending decreases: $110,983 in debt services and $100,000 in reserve for uncollected taxes. …

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