Township residents will pay 10.3% more in municipal taxes

[cranbury news]

Fixed costs boost town spending

Township residents will pay 10.3 percent more in municipal taxes under the 2006 municipal budget adopted by the Township Committee on Monday.

The Township Committee voted 4-0 to approve a $12.5 million spending plan for 2006 that is $978,592 larger than last year's and will raise $763,359 more from taxes, for a total tax levy of $5.26 million.

Committee member Richard Stannard did not attend the meeting.
Under the new plan, the municipal tax rate will increase 8 cents, to 85 cents per $100 of assessed valuation. At that rate, the owner of a home assessed at the township average of $225,000 will pay about $1,912 in municipal taxes, about $180 more than last year.

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