City Council is scheduled to hold a public hearing and final approval of the 2017 municipal budget during its combined conference and regular meeting tonight, starting at 7 p.m. The $54-million spending plan, which projects an average municipal tax increase of $81, was introduced at the April 24 regular meeting.
Continue reading City Council to approve 2017 municipal budget
Payments In Lieu Of Taxes (PILOTs) more than doubled in last year’s municipal budget, eclipsing $2 million after three new projects were added to the tax rolls. The spending plan for 2017 anticipates $1.3 million after the expiration of one five-year PILOT.
City Council is scheduled to vote on a $140,000 Special Improvement District (SID) budget for 2017 during its combined conference and regular meeting on June 12.
City Council introduced a 2017 municipal budget on Monday night that estimates an average tax increase of about $81, or 2.4 percent, on the average Rahway home.
City Council is expected to introduced the 2017 municipal budget at its next regular meeting, April 24.
Rahway’s overall assessed value is about 7 percent off since the recession with assessed values of apartments and industrial properties heading in opposite directions while commercial assessments are almost back to pre-recession levels.
Continue reading A look at assessed value over the past decade
Rahway’s total taxable value nudged up slightly last year, highlighted by a sharp increase in apartment assessments thanks to a new building on the tax rolls, and a dip among industrial property due to lower assessments on Merck properties.
Almost 20 Rahway properties have been acquired in the last six months through the state Department of Environmental Protection (DEP)’s Blue Acres program, with demolition forthcoming as part of local flood-mitigation efforts.
Continue reading Blue Acres to demolish almost 20 properties