No Tax Increase Proposed in Ambler's $4.3 Million 2014 Budget

Ambler Borough administration is projecting no tax increase in the 2014 budget, according to The Ambler Gazette. Council met in the first of three budget sessions on Monday.
If approved as such, the millage rate in the borough would remain at 6.78 mills. One mill equates to $1 in taxes for every $1,000 of assessed value. For a home valued at $100,000 in Ambler, the property owner can expect to pay $678.
General fund revenues are estimated at $4.39 million and expenses at $4.424 million, per the article. Property taxes will account for $1.588 million.
The borough plans to use savings from 2013 to offset the negative balance.
About $75,000 from the business privilege tax will be used toward the purchase of Mattison Avenue Elementary. All in all, Ambler is buying the school from Wissahickon School District for $1.89 million.
Read more at this link.