The proposed tax rate represents a 1.22 percent decrease from last year’s rate of $0.409.
At its latest meeting, Moorestown Township Council adopted the 2018 municipal budget under which residents will see a tax decrease. The proposed tax rate of $0.404 per $100 of assessed value represents a 1.22 percent decrease from last year’s rate of $0.409.
The average assessed home of $450,470 will pay approximately $1,819.89 in local purpose taxes. The municipal portion of this tax would be $1,648.72, and the library portion would be $171.18.
The total budget is $25,592,000, and the overall tax levy is $16,293,748. The municipal tax is $14,758,840 of the levy, and the library tax is $1,534,908 of the levy.
The overall budget saw an approximately 5 percent increase as compared to last year. A new appropriation of $525,000 is required to account for the township’s mall tax appeal settlement. This money will need to be raised in each of the subsequent budgets from 2019 to 2022.
The township also saw a 2.36 percent, or $193,531, increase in salaries and wages, and group insurance rates increased by 5.11 percent, or $111,270. Debt service increased by $220,127, and the capital improvement fund increased by $150,000.
Ratables saw an increase of approximately 0.31 percent. Revenues are also up $1,389,107 in 2018, and the township is using $2,605,000 in surplus to balance the budget.
The 2018 water and sewer utility budget is $10.5 million, which is a $585,000, or 5.28 percent, decrease from last year. The cost to purchase water is $1.5 million less than 2017 appropriations. The 2018 utility appropriations saw an overall decrease of $856,000 compared to the prior year’s emergency funds.
During the public hearing on the budget, resident Paul Conlow inquired as to how the township’s affordable housing obligation factors into the budget.
Township Manager Thomas Merchel responded that until council has passed all of the required ordinances to get the projects started, he can’t provide an exact figure. He said the township is required to have all of the housing completed by 2025, and the cost will hit when they start moving forward with the projects.
Resident Greg Newcomer also had questions about future township projects. He said this was his 10th year standing before council during the public hearing on the budget to inquire about the township’s sustainability efforts, and he asked if the township had set aside money in the budget to look into solar energy.
Newcomer said many of the surrounding towns in the area have invested in solar energy. He cited Cherry Hill as an example saying the town even received a $400,000 grant to fund its solar efforts.
“I would request that the council please look into this this year even if it had to form a committee to do so,” Newcomer said.
Merchel responded that funding for solar projects was not included in the budget.
Councilwoman Victoria Napolitano said the 2018 budget was something council can be proud of. She said the township was able to decrease taxes without laying off staff or cutting township services.
“We’re overtaxed in New Jersey — everywhere in New Jersey — and we’re trying really hard to do our part to keep your taxes down and not at the expense of our services,” Napolitano said. “I think the quality of life here in Moorestown is as good as it’s ever been.”
The next meeting of Moorestown Township Council will take place on Monday, Aug. 6, at 7:30 p.m. in Town Hall.
