Avalon Council approved a $26.8 million municipal budget last week that contains no increase in the local purpose tax rate while funding major capital improvements.
The local tax rate remains at 22.6 cents per $100 of assessed valuation. That means the owner of an average $1.3 million home will pay $2,938 in local property taxes.
Among capital improvement projects planned are a third year of dredging the borough’s back bays and navigational channels, as well as upgrades to Avalon Community Hall and a new pump station on 78th Street.
Added tax revenue from an additional $60.43 million in ratables helped the borough hold the line on a local tax increase.