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 Posted: Sat, Feb 4 2006, 10:04 am EST Post subject: Cranbury eyes tax hike |
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Under the proposed budget, residents owning a home with the average township assement of $225,000 would pay $1,912.50 in municipal taxes.
Increases in the cost of public safety, professional services, utilities and state-mandated spending for the Cranbury Public Library could result in a 10.3 percent increase in municipal taxes for 2006.
The Township Committee met Monday to discuss the proposed spending plan, which is slated to carry a municipal tax rate of 85 cents per $100 of assessed valuation, an 8-cent increase from 2005.
Under the proposed tax rate, the owner of a house assessed at the township average of $225,000 would pay $1,912.50 in municipal taxes, a $180 increase from the 2005 average of $1,732.50.
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