No tax increase in Elizabeth’s budget

By CHRISTINE HAINES

chaines@yourmvi.com

Elizabeth borough council is ending the year with a firm hand on its finances and no tax increase for 2020.

Council approved the budget and tax ordinances for next year at Tuesday’s meeting. The general fund budget of $1,066,465 was reached with taxes holding steady. 

The borough will take out a $75,000 tax anticipation note at 3.09% interest to help the cover its expenses in the early months of the year before tax revenues start rolling in. 

Solicitor Krisha DiMascio said the TAN is separate from a loan the borough took out the fall to cover capital improvements.

“It’s been a trying year, but we made it through,” said Paul Shaner, the council president.                                                                                         

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