MORRISTOWN - The town of Morristown has released a tentative $1.43 million budget for the 2014 fiscal year that includes a slight tax increase.
The Town Council will revisit the budget on Oct. 29 at 6:30 p.m. in a work session that is open to the public.
At the Nov. 12 town council meeting they will likely discuss a final version.
A public hearing on the budget will be held in advance of the Nov. 12 meeting.
The current $1.5 million budget saw a tax rate of $3.09 per $1,000 of assessed property value. If the tentative budget is approved the tax rate would increase to roughly $3.2 per $1,000, raising a $560,000 tax levy.
The increase is largely coming from the highway fund which rose from $309,111 in 2013 to $311,728 in 2014.
If approved that represents the lions share of the tax rate increase and is driven by the price of snow removal, repairs and employee benefits.
The town is not yet looking at using any fund balance to supplement the budget in the 2014 fiscal year budget.
This would be the first tax rate increase in three years as declining health insurance costs allowed the town council to hold the rate at $3.09.
In 2011 town council members stopped getting health insurance coverage through the town and in 2012 the town clerk and code enforcement officer likewise lost their coverage.