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Franklin NJ: Property taxes increase under 2021 budget


Borough Administrator Deborah Bonanno said the increase is based on a home assessed at the average of $174,137.
The budget also uses $650,000 from the fund balance, also called surplus, which is the same amount used in the 2020 budget. The auditor noted that the borough finished 2020 with $738,000 going into the fund balance, which began this year at $2.269 million.
Despite the pandemic, the borough s tax collection rate last year was 96.98%, an increase over the 2019 rate of 96.77%.
The council also approved an agreement with Campy s Amusements to provide rides and related services for the annual Franklin Carnival, tentatively scheduled for this fall. The 2020 carnival was canceled because of the covid pandemic. ....

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