Library Gets Its Own Tax, But Borough Tax Increase Remains at 3.13%
Statewide legislation determines that libraries will get their own line on property taxes.
The Chatham Borough Council approved a resolution to introduce the municipal budget Monday night. The budget went through some changes since Tammie Kopin, the borough's chief financial officer, first presented it at the March 14 council meeting, the most notable change pertaining to the library tax. Last week, Gov. Chris Christie signed a bill that will give local libraries their own tax funding independent of municipalities. In the Chathams, residents will now see the library as a separate line item on their property taxes, along with schools, municipal taxes and county taxes. In the borough, the minimum library tax amounts to $757,825.24. Another $17,000 was added to the budget for debt service. "We would have had to add $200,000 if we …
In this Article:
