RARITAN, NJ - Raritan Borough approved its 2017 municipal budget, set at $10 million and including a flat tax rate.
The budget is set at $10,897,968.70 for both revenues and appropriations, a decrease of 4.1 percent over the 2016 budget set at $11,372,199.78.
Borough administrator Dan Jaxel said that about $7 million is being raised in the budget by taxation.
“I wanted to thank the council and in particular the finance chair for keeping the municipal tax rate flat for another year,” Mayor Charles McMullin said.
The municipal tax rate has stayed flat since 2015.
Jaxel has said that a big reason for the decrease in the overall budget this year is the elimination of $650,000 that was required to be paid through the settlement with Gannett in 2016 over the lawsuit concerning release of records. That expenditure was removed from the 2017 budget because it was taken care of in the 2016 one.
The budget does include $15,500 for a master plan re-examination.
In addition, the borough approved the cap bank ordinance, which it does every year. The ordinance allows the borough to increase the budget by a small amount over the state-allowed 2 percent cap.
With the ordinance, the borough is banking expenditures in case they are needed in the future, but are not exceeding any expenditures.