City Council introduced a 2017 municipal budget on Monday night that estimates an average tax increase of about $81, or 2.4 percent, on the average Rahway home.
City Council is expected to introduced the 2017 municipal budget at its next regular meeting, April 24.
Three new Payments In Lieu Of Taxes (PILOT) to the city and higher foreclosure registry fees should boost city revenues by some $652,000 in the 2016 budget.
Municipal taxes would rise by about $39 on the average property under a municipal budget introduced by City Council.
There are more than 300 residential properties on the city’s foreclosure registry, as of Sept. 1, including almost 100 vacant properties.
City Council approved a $760,000 budget for an expanded Special Improvement District (SID) as well as a revised roster of affected properties.
City Council approved a 2015 municipal budget that was largely unchanged from the one presented last month by the administration, carrying with it an average $120 tax increase.