Galloway May Borrow $2.1 Million to Pay for Tax Losses

A public hearing on an ordinance that would authorize Galloway Township to borrow up to $2,145,000 to make up for tax-revenue losses is scheduled for 6:30 p.m. Monday, Nov. 18.

The losses stem from thousands of property owners who successfully appealed to have their property assessments lowered and received tax credits in 2013.

Township Council passed the first reading of the ordinance at a special meeting on Thursday (Nov. 7).

Read more about the meeting in a report from The Press of Atlantic City's Steve Lemongello: Galloway council proposes to borrow $2.1 million to cover tax-appeal losses.

Township Council's meeting that had been scheduled for Tuesday, Nov. 26, has been changed to Monday, Nov. 18.