Smithfield council approves tentative budget
SMITHFIELD – Borough council approved a tentative budget for the 2012 fiscal year that will hold property taxes steady.
At Tuesday’s meeting, council members unanimously voted to approve the balanced budget, which listed $217,555 in total revenue and $217,135 in total expenditures.
The millage rate, as indicated in the tentative budget, is expected to remain at 1.775 mills. At that rate, landowners pay $88.75 for every $50,000 in assessed property value or $177.50 for every $100,000 in assessed value.