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RIVER VALE—The average township homeowner likely will see an approximate $185 annual property tax increase over 30 years due to the $13.3 million bonding necessary for a proposed one-story, 18,000-square-foot new Public Safety Complex planned for 3.25 acres at the corner of Rivervale Road and Prospect Avenue.
According to town administrator and CFO Gennaro Rotella, the $14 million project cost includes a $700,000 down payment on the bonds, courtesy of a contribution by Woodmont Properties as part of its developer’s agreement with the town…
