By Sophia Gonzalez
Staff Writer
Posted March 14, 12:10 p.m.

The numbers are in.

But local officials and residents don’t seem to be too happy about it.

The Borough Council introduced a $7.83 million municipal budget, showing a 6.34 percent increase from last year.

An average homeowner with a house assessed at $479,733 may expect to pay an additional $340.61 in taxes if the budget is adopted.

Fueling the increase is Gov. Jon Corzine’s state aid cut to the borough, which strips $344,410 from property tax relief.

Price jumps in employee salaries and wages, utilities and pensions to police and firemen account for the $496,618 difference.

The budget last year stood at $7.33 million.

To compare, the tax levy was $4.19 million in 2007. The tax levy, which is the amount generated by taxpayers, now numbers $5.1 million.

The markup reveals a 21.6 percent increase to the tax levy.

Revenue from added rateables like Daibes Square will absorb some of the rising costs, but not enough to make a significant budget dent, according to Council member Pat Marana.

"This budget will create a panic in the neighborhood," said resident Peter Perretti.

Borough Auditor Steven Wielkotz said that it has been "a horrible budget year and it doesn’t look like it’s going to get better."

But Mayor John Hogan said that he is ready to use his veto power if the figures do not improve.

"[The budget] is not using enough surplus to offset the tax levy," said the mayor. "It can and will be brought down."

Councilman Lloyd Winans cautioned residents that the Council has only begun the budget process.

Council members have not yet consulted the various department heads from bodies such as the Department of Public Works and the Recreation Department. In the past two budget meetings, the Council met with the fire subcode official, tax collector and representatives of the police and municipal court.

By joint purchasing equipment with Harrington Park, for instance, the mayor said he hopes to trim the budget.

"To calm your fears a little bit," Hogan told residents, "this is my plan of attack."