There will be no tax increase in the Township budget for a third year in a row, Township Manager Tom Henshaw confirms to TLS.
Henshaw, who has been with the Township for about two and half years, attributes the success of keeping the budget down to a dedicated team of Township officials working with him.
The Manager says there are multiple infrastructure projects underway – and included in the budget – including road and sidewalk projects.
In addition, says Henshaw, the Township has received a better bond rating, enabling a lower interest rate for debt.
The budget for this year is $87,715,381.00, and is expected to be presented during the next Township Committee meeting.
How much more revenue was collected due to all the new construction . Is this good budgeting and management or is there just some much new revenue ?
the issue will be when building slows down
just curious
That’s really good news that there will be no increase in taxes from the township.
My taxes have increased every year. Is that all related to school budget?
But with the recent property tax revaluation, property values across the town have gone up. So there should be a significant increase in expected revenue…so instead of lowering our taxes this year I guess they’re using the surplus for additional road projects?
Why can’t they cut the tax rate? Thy are sitting on 25 million in cash from the year to year surpluses.
And if so, why do they need to borrow cash from the state for the school?
I don’t get it. Last years budget was $80 million (http://www.lakewoodnj.gov/images/db/admin-3833-2017-Municipal-Data-Sheet-and-Budget.pdf) vs. this year $87 million (http://www.lakewoodnj.gov/images/db/admin-1104-2016-Adopted-Budget-003.pdf). How is that not an increase??