Fair Haven Municipal Budget Adopted

By Elaine Van Develde

Calling the $8.4 million 2015 Fair Haven municipal budget a sound one with no compromising of borough services, the Borough Council unanimously adopted the spending plan at its Monday night meeting.

What it boils down to is roughly a $100 hike in the municipal rate for the average assessed property in the borough.

The average assessed property value in Fair Haven this year is $720,000, up from $688,540 last year. It actually means a slightly lower tax rate per $100 of assessed value, but the rise in average assessed value naturally raises the rate on the average home.

The amount to be raised by taxation is $6.1 million for 2015, calculating an increase of $231,591.

The budget “brings us back to the same spending level as in 2008,” after vacillating from cuts to increases in spending, Mayor Ben Lucarelli said. But, he added, it has never gone past that 2008 point.

The spending plan increased by about 3 percent this year.

Surplus is at $800,000, Borough Administrator Theresa Casagrande said, adding that she feels the budget is a tight, sound one. leaving a healthy enough surplus.

Another plus for the borough is that its debt is down to about $3 million, after paying down about half, which gives the borough an excellent credit rating, officials said.

For more details, click here for the story on the budget draft and here for the full budget on the borough website.

John Caroli
BCS Wealth Management