Page 4 THE VILLADOM TIMES I • August 20, 2014 Franklin Lakes Bergen County board sets borough’s new tax rate by Frank J. McMahon The Bergen County Board of Taxation has set a $1.572 tax rate for the Borough of Franklin Lakes for the 2014 tax year. This represents a 1.5 cent increase in the bor- ough’s all inclusive tax rate over the borough’s 2013 tax rate. The borough’s property tax bills that were recently sent to residents are based on the new tax rate. The grace period for paying the property tax will be extended to Friday, Aug. 29. Payments received after that date will have interest charged back to Aug. 1 as mandated by the state’s tax collection office. The borough’s new tax rate will result in a $154.50 Ambassadors sought The Franklin Lakes School District is seeking students to serve as Student Ambassadors for its Franklin Avenue Middle School 1 to 1 Laptop Initiative. Students entering sixth, seventh, and eighth grades are invited to apply. This leadership opportunity will allow students to play an impor- tant role in the successful implementation of the laptop pro- gram. The 1 to 1 Laptop Initiative provides a laptop to each student for use in school and at home. Student Technology Ambassadors will be a resource to support fellow students with any questions about laptop operations that might arise. Those selected for this impor- tant position are required to attend specialized training on Aug. 27 from 9 a.m. to noon at Franklin Avenue Middle School, 755 Franklin Avenue in Franklin Lakes. For more information, contact Bridget Pastenko at (201) 891-0202, extension 232 or bpastenkos@franklinlakes.k12.nj.us. property tax increase for a homeowner whose property is assessed at the borough’s average value of $1,030,000. The borough’s total tax rate is comprised of a Bergen County tax rate of 24 cents, which represents a decrease of one tenth of a cent from the 2013 tax rate; the Bergen County open space tax rate of three tenths of a cent, which is the same as last year; the borough’s school dis- trict tax rate of 61.3 cents, which represents an increase of three tenths of a cent; the regional school tax rate of 44.4 cents, which represents an increase of one cent; the library tax of 3.4 cents, which represents a decrease of one tenth of a cent; and the municipal tax rate of 23.8 cents, which represents an increase of four tenths of a cent over the 2013 municipal tax rate set by the county last year. The tax rates set by the county for surrounding towns are $1.587 for Wyckoff; $2.611 for Oakland; and $1.694 for Mahwah. The obligation of a property owner is determined by multiplying the property’s assessed value in hundreds of dollars by the tax rate. The 2014 tax rate is a result of the budgets passed by the county, the school districts, the library, and the municipality. The borough’s 2014 budget that was announced by Mayor Frank Bivona in March and adopted by the bor- ough council on April 1 amounted to $16,342,354. That budget requires $11,233,414 million to be raised by taxa- tion, which is $214,415 or a 1.95 percent increase over the previous year. Bivona pointed out at that time that the proposed tax levy would be under the maximum allow- able state levy cap by over $1.4 million.