IN LAMBERTVILLE Taxes Stable in City Budget

 

Under a $4.946 million City budget for 2015 introduced February 10, the municipal tax rate would drop .003 cents to .316 cents per $100, meaning a house valued at the City average of $353,768 would taxed $1.38 less than in 2014. Under the proposed fiscal plan, the City is expected to see its “rainy day fund” grow to in excess of $900,000 by the end of 2015. “Providing value to taxpayers is one of the the most important things local government can do,” said Mayor David DelVecchio. “I am very proud that we are going to be able to maintain the high quality of City services residents have come to expect without asking for them to pay more in taxes. The City is on a strong fiscal footing, and that bodes well for our future.” A public hearing on the budget is scheduled for 7 p.m. March 16 at the Phillip L. Pittore Justice Center. According to data from the state Department of Community Affairs, Lambertville has the lowest average property taxes of any Hunterdon County municipality with a police force, and the fourth-lowest average property tax burden overall.