The new budget holds property taxes at their current rate or 24.95 mills, but residents will pay more in Earned Income Tax (EIT) next year. A 0.2 percent increase in the EIT was passed by council members on November 13, raising the rate to 1.95 percent for residents. The EIT rate paid by those who work in Easton but do not reside in the city will remain at the current 1.75 percent rate.
A $110,000 shortfall in the budget will be rectified in January, city administrators said last month, suggesting that the money will likely be made up by not filling a currently vacant position on city staff and/or delaying hiring for a new position that is in the budget.
City administrators had previously attempted to fill the gap by proposing a $25 increase per unit in the annual residential licensing fee, but the move failed to get city council members' approval.
The 2014 budget calls for a general fund of about $32.27 million, an increase of approximately $700,000 over 2013.
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