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Posted: Sat, Feb 18 2006, 10:17 am EST Post subject: Tax base on the rise |
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Commercial tax appeals slow overall growth
Cranbury's tax base grew by 5.5 percent in 2005, but some township officials say that growth could have been greater if it were not for several commercial tax appeals.
Cranbury Township Tax Assessor Steve Benner said the township's overall ratable base — or the total value of taxable property in the township — increased by $32.134 million this year to a total of $620.326 million. Mr. Benner said 75 percent of the increase came from the construction and sale of commercial facilities, and the remaining amount was from new houses.
But Mr. Benner said the total amount of taxable property would have been more had the township not lost $12.138 million in ratables when three commercial companies filed tax appeals in 2005.
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