Allenhurst residents will see a slight decrease in their municipal purpose tax rate under the 2017 budget introduced on March 28. A public hearing on the budget is scheduled for on Tues., April 25 at 7:30 p.m.
Taxpayers will see an approximate two-cent decrease in their municipal tax rate under the total $5,224,732 budget, up slightly from last year’s $5,031,105 budget. The tax levy, or the amount to be raised through taxation, also rose slightly to $2,395,282, up from $2,311,137 last year.
Even though the tax levy is up slightly, the municipal tax rate will go down due to an increase in assessed valuation in the borough. The municipal purpose tax rate will go from about 46 cents for each $100 of assessed valuation to about 44 cents.
Borough Administrator Donna Campagna said there is still a tax decrease even though the governing body applied less in surplus this year toward the budget, from 596,600 last year to $300,000 this year.