>First draft of Ridgewood municipal budget shows $276 tax hike
Thursday March 8, 2012, 11:25 AM
BY DARIUS AMOS
STAFF WRITER
The Ridgewood News
The municipal portion of next year’s tax bill could increase by 7.6 percent, which would likely raise taxes by roughly $276 for the average assessed home of $794,531, Village Manager Ken Gabbert said at a budget meeting on Wednesday.
Gabbert opened the meeting by citing several reasons that factor into the possible tax increase and reminded members of the Village Council that those numbers can change before the budget process is completed.
“[The increase] is remarkably low from the last two years, so don’t start screaming about 7.6. Obviously, the process you’re going through is to wean down the budget and to get a budget that will be ready for introduction,” Gabbert said, noting that the village is still within the mandated 2 percent tax levy cap.
