Newspaper article The Record (Bergen County, NJ)

Oakland Budget Carries $49 Tax Hike

Newspaper article The Record (Bergen County, NJ)

Oakland Budget Carries $49 Tax Hike

Article excerpt

Oakland -- The Borough Council has introduced an $18.5 million municipal budget for 2016 that would require a $49 property tax increase on the average home.

The budget total, $18,512,792, reflects an increase of $63,502, or 0.34 percent, from 2015. The tax levy would be $14,542,920, up $254,216, or 1.78 percent, from 2015. The preliminary tax rate for municipal purposes, not including open space, would rise 1.67 percent, from 65.7 cents per $100 of assessed valuation to 66.8 cents per $100 of assessed valuation.

Introduced on March 23, the budget will be the subject of a public hearing on April 27, preceding a vote of adoption.

Increases in the budget include $40,000, a 2 percent increase, for health benefits because of higher premiums. A budget overview reports that premium rates have increased by about 5. …

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