By Jonathan Cheung
Staff Writer
Published April 9, 2008

The council’s preliminary budget has been submitted.

If the budget is adopted, the average homeowner, with a house assessed at $670,000, can expect a tax increase of $78.

The Borough Council presented the $7.53 million municipal budget, which is a 2.48 percent increase form last year. In addition to Governor Jon Corzine’s $80,000 cut in state aid the proposed budget should account for the many increases that are constantly on the rise.

"With the lost state aid, we still have to account for gas, electricity and pensions, which have all gone up," said Demarest Tax Collector/Treasurer Maureen Neville.

The bulk of the money will be spent on several aspects to maintain and improve the borough. The necessary funds vary from road programs, police salaries and increasing pensions that increased an average of $80,000.

In addition to the mentioned increases, the public library automatically receives 15 percent to help fund the Bergen County Cooperative Library System (BCCLS).

Looking at last year’s numbers, the tax levy, which is the amount provided by taxpayers, was $4.85 million. That has now been upped to $5.02 million.

The next hearing concerning budget issues and matters is scheduled for April 21 at 7:15 p.m. at the Borough Hall.

E-mail: cheung@northjersey.com or call 201-894-6709