FAIR LAWN, NJ - The Borough Council adopted the $54.2 million 2020 Municipal Budget during a virtual meeting last evening in which residents were asked to call in and ask questions, while the mayor, the borough clerk and the borough administrator attended in person and four other council members called in from home.
The virtual meeting on March 24 came into play to adhere to social distancing during the coronavirus pandemic.
The council adopted the budget unanimously.
One member of the public asked if the borough had considered the current pandemic in its budgeting.
"We have $5.5 million in revenues generated from previous years, which we have put away," Mayor Kurt Peluso said. "We feel like we're in a good place right now."
The borough's average assessed home is $332,371. The municipal tax rate on $100 of assessed value is $0.896, according to Van Kruiningen.
The anticipated amount of taxes to be raised in support of the budget is $38,112,865.
Spending has increased more than $3 million over 2019’s budget which totaled $51,203,171. Total anticipated expenditures for 2020 are $54,230,742.
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