Ramsey Proposes Modest Tax Increase ; $18.2m Budget Uses Surplus to Control Rate

Summary


RAMSEY - The borough's preliminary 2004 budget calls for a 2.4 percent increase in the municipal tax rate.

The $18.2 million budget, up from $16.8 million last year, was introduced last week. It includes a tax rate of $0.424 per $100 of assessed value, compared with $0.414 last year. The owner of a home assessed at $415,000, the borough average, would pay $1,760 in municipal taxes, a $42 increase from 2003.

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Ramsey Proposes Modest Tax Increase ; $18.2m Budget Uses Surplus to Control Rate

"I think it's a very prudent approach to take," Mayor Richard Muti said of the budget. "We raise the municipal tax by o...

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