MIDDLETOWN — Superstorm Sandy walloped Middletown once. Five months later, it’s doing a number on the municipal budget for Monmouth County’s largest community.
Middletown’s proposed 2013 budget totals $66.4 million, up about $2.8 million or about 4.4 percent largely because of costs from the Oct. 29 storm, township chief financial officer Nick Trasente said Thursday night.
And that could mean a 2.2 percent increase in municipal taxes, nearly double the increase taxpayers would have seen had the storm not hit.
Middletown will be paying the costs of Sandy over the next five years, Trasente said. This year’s bill for disaster recovery will be about $500,000.
But that cost, as well as the amount of the proposed tax increase, could go down, depending on the reimbursement level from the Federal Emergency Management Agency.
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