In Print: Garwood Introduces Budget, Raises TaxesGarwood council’s budget has 11.8 point increase
By Carolyn Freundlich
GARWOOD — The Borough Council finalized their 2010-2011 budget at an 11.8 point increase, or $118 tax increase on every Garwood home assessed at $100,000.
With the loss of $126,000 in state aid, under Gov. Chris Christie’s financial plan, the Council also faced a $202,563 increase in state mandated expenses, and a 15% increase in group insurance. Initially these equated to a 20 point tax increase, or $200 tax increase on every home assessed at $100,000.
For the record, they only introduced the budget; it hasn't been approved yet.
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