Borough finances are the main topic for tonight’s Petersburg Borough Assembly meeting. The assembly will consider several ways to raise revenues.
The assembly will vote on the borough’s fiscal year budget, which begins on July 1 and runs through June 30 of next year. There will be a public hearing on the budget before the assembly votes on it for the second time.
Proposals to increase rates for electricity, water and sewer are on the agenda. The borough’s proposed electric rate increase would amount to 9-12% for the average residential customer. The electric rate increase would only be for the next fiscal year before being re-evaluated. Water rates are proposed to go up by 3%. And the borough proposes a sewer rate increase of 25% this next fiscal year, followed by 10% increases over the next four years.
Also on the agenda is limiting the senior sales tax exemption to just low-income seniors. That issue was on the ballot in 2018 and failed by a large margin. The town’s population has aged a lot since the exemption began over four decades ago. Proponents say that now, the exemption costs the borough nearly half a million dollars a year in lost tax revenue.
The borough assembly meeting is tonight at 6:00 p.m. in the assembly chambers at the municipal building. It’s open to the public. KFSK will broadcast the meeting live.
Also, tune into KFSK’s live Borough Business show today at 12:30 p.m. to hear more about tonight’s meeting. Vice Mayor Donna Marsh and Assembly Member Bob Lynn will be joining the show.
