What might a municipality face if it does not have its budget approved by the County Board of Taxation?

If a municipality does not have its budget approved by the County Board of Taxation, it can face significant challenges in setting a tax rate. The budget serves as a financial plan that outlines the anticipated expenditures and revenues for the municipality, and the tax rate is determined based on this budget. Without approval, the municipality cannot ascertain the necessary revenue needed to fund its services and operations, which complicates the process of determining an appropriate tax rate.

Moreover, without a properly approved budget, local officials may struggle to allocate resources effectively, leading to uncertainty in financial planning and the potential for service cuts or delays in public projects. This underscores the importance of receiving timely budget approval to maintain financial stability and ensure the municipality can meet its obligations.