Loch Arbour Municipal Tax Rate to Rise 2 Cents
By DON STINE
| The total $971,629 village budget, down from $1,016,321 last year, calls for a two-cent tax rate increase for each $100 of assessed valuation. The average home in Loch Arbour is assessed at $1.4 million. |
Loch Arbour residents may be getting hit hard with an increased school tax this year but the village’s municipal tax rate will increase by only 2 cents.
The state Legislature recently socked Loch Arbour with a $1.3 million increase in their annual school payment to send its 24 students to Ocean Township Schools.
“The school bill is a separate levy and has nothing to do with the municipal budget,” said Village Administrator Lorraine Carafa.
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