BAYONNE — Bayonne Mayor Mark Smith introduced the $130 million 2011 fiscal year budget on Monday, saying it will cause a 3.9 percent tax increase.
“While we continue to work on the budget, as proposed, it contains a modest increase of 3.9 percent,” Smith said.
While the total figures are not in for state and other grants, the introduced budget is about $5 million less than last year, a figure that Chief Financial Officer Terrence Malloy said will change over the next few months.
What is critical is the amount that needs to be raised by taxes, which rises from $66.8 million last year to $69.4 million in the new budget.
The budget will go to a hearing and final vote this coming year.