Lakehurst Budget Increasing

Photo by Micromedia Publications

LAKEHURST – Lakehurst taxpayers will see a four cent increase in their municipal tax rate.

The council introduced its 2018 $4.3 million proposed budget recently. This budget comes in $221,151 over last year’s proposed budget of $4.1 million, but $6,210 under what the final 2017 budget was.

The borough will raise $2.5 million through local taxation, up from $2.4 million last year. Lakehurst is applying $700,000 in surplus to its 2018 budget, leaving $293,155 surplus.

State aid is stagnant at 2017’s rate, at $295,439.

That tax rate will increase from $1.72 to $1.76 per $100 assessed valuation, CFO William E. Antonides Jr. told The Manchester Times.

The public hearing on the budget is set for 7:30 p.m. May 3 at the community center, 207 Center St.