Moorestown residents could see a decrease in municipal taxes this year.
The Moorestown Town Council unanimously approved the 2016 budget on first reading. For the proposed 2016 budget, the average assessed home of $441,700 will pay a total of $1,810.97 per year in municipal taxes, which is a decrease of $8.83.
“My hope is that the 2016 budget begins a trend where we can continually deliver tax relief to our residents, while responsibly planning for our future and continuing to move Moorestown in the right direction,” Mayor Phil Gardwood said.
The total appropriations for the budget are $23.9 million, which is an $89,000 or 0.037 percent increase over last year. The increase is due to RUT requirements, capital improvements and other item net increases, according to Chief Financial Officer Tom Merchel. These are offset by a decrease in group insurance and net decrease in grants. Revenues have also increased by $42,023, which include a decreased reliance on surplus, an increase in MRA and delinquent taxes.
The water and sewer utility budget is $11.1 million, which is an increase over last year of $1.92 million, or a 20.9 percent increase. This is due to the purchase of water from New Jersey American Water, the temporary treatment solution for Wells 7 and 9, capital improvements and debt service. This is covered by surplus.
From the current fund surplus, Moorestown will be using $1.8 million for this year’s budget and $2.79 million from the utility surplus. This leaves $5.17 million in the current fund surplus and $4.27 million in the utility surplus.
The tax levy total is $16.4 million, with $14.8 million for the municipal budget and $1.58 million for the library, which is an increase of $46,977. However, from all of the offsets, the 2016 proposed tax rate is $0.410 per $100 of assessed property value, which is a decrease from last year at $0.412.
The budget allows for full-time and part-time employee staffing to increase from 79.5 to 81.5. Decreases have been made in administration and public works staffing, but there were increases in recreation and construction staff. There also have been no cuts of programs.
Councilman Manny Delgado expressed his pleasure with the budget at the meeting and thanked those who helped for all of their hard work.
“I was happy we could get it down and decrease it this year,” Delgado said.
The second reading and public hearing is set for the May 23 Town Council meeting at Town Hall, which begins at 7:30 p.m. and has a 7 p.m. workshop.
Other budgetary items passed were an ordinance on first reading to exceed the municipal budget appropriation limits and establish cap bank, and a budget resolution establishing a tax levy of the Moorestown Open Space, Recreation and Farmland and Historic Preservation Trust Fund Program.
According to Merchel, the ordinance is only to establish cap bank, which allows the township to use it if needed.
This will be considered at the May 9 Town Council meeting at Town Hall, which begins at 7:30 p.m. and has a 7 p.m. workshop.
Council unanimously passed the budget resolution establishing a tax levy of the Moorestown Open Space, Recreation and Farmland and Historic Preservation Trust Fund Program, which establishes the open space tax levy at $0.01 per $100 of assessed property valuation for 2016.
