PERTH AMBOY – The city is looking at a potential $10 million increase in the municipal tax levy for the 2009 fiscal year budget, Business Administrator Gergory Fehrenbach announced at last week’s City Council meeting.
The increase represents a 23 to 24 percent jump over last year’s tax levy. The municipal tax rate is expected to increase only fiver percent, which would increase taxes for the average homeowner by $35 to $40 for the August payment.
Fehrenbach noted that the city is facing a $765,000 reduction in state aid. In addition, last year Perth Amboy anticipated a $600,000 surplus that did not materialize. Last year’s budget also relied on $6.5 million in non-recurring revenue. Salaries and wages will rise by $1.3 million, and pension costs are still unknown, Fehrenbach said.
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