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PARSIPPANY — Two weeks after the township Council tabled an ordinance to authorize a $5 million emergency loan to help balance the 2021 budget, it tabled it again on Tuesday to have more time to study the controversial effort.
Council President Michael dePierro said if the township's revenue shortfall is not resolved, residents may face a 14.6% municipal tax increase in 2021.
"The mayor wants the township council to approve a budget that is not statutorily correct, including a $5 million loan, plus interest, that must be paid off within five years," dePierro said at the Council's first in-person meeting since the beginning of the pandemic more than a year ago.