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Midland Park

Borough Introduces 4% Tax Hike For 2014

02/28/2014 08:02PM ● By Rebecca K. Abma

Midland Park Borough Hall

The average homeowner can expect to pay an additional $111 for the municipal portion of the tax bill for 2014, on a home assessed at $392,000. The $10.3 million budget, introduced at the Feb. 27 meeting, reflects a 3.3% increase in spending over last year. 

Costs for employee health insurance, legal fees and anticipated contractual salary increased, while costs for garbage renewal decreased for 2014. Anticipated revenues for court fines and interest on deposits decreased, however the borough entered into a shared service agreement with Ho-Ho-Kus's building department for an additional $80,000 revenue. 

State Aid remained flat at $546,706 for the sixth year in a row, representing 63% of 2007 levels. To offset the increase in taxes, the borough applied $1.5 million of its $2.6 million surplus to the budget. 

The budget is scheduled to be published in the Bergen Record on March 9 and the public may request a copy of the budget from the Borough Clerk. The budget hearing will be held on March 27 at 8pm at Borough Hall. 
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