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<table border="0" cellpadding="3" cellspacing="1" width="100%" class="forumline"> <tr> <th class="thCornerL" width="22%" height="26">Author</th> <th class="thCornerR">Message</th> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>news</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Fri, Feb 16 2007, 7:12 pm EST<span class="gen"> </span> Post subject: Plan carries tax increase</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Property revaluation complicates results for residents <br /> <br /> The Township Committee may seek a 23.4 percent increase in the total amount it needs to raise in municipal taxes, but the impact on the average residential taxpayer is difficult to calculate because of a recently completed townshipwide property revaluation. <br /> <br /> The committee introduced a $12.17 million budget Monday, which included a tax levy of $6.5 million — $1.23 million more than in 2006. <br /> <br /> Overall, the budget is smaller than last year's $12.5 million spending plan, due to a $900,000 decrease in payments on township debt — from $4.9 million to $4 million. <br /> <br /> However, the non-debt payment portion of the budget is proposed to increase by approximately $557,000. <br /> <br /> If the proposed budget is approved, the municipal tax rate would be 35 cents per $100 of assessed valuation. Under that rate the owner of a home assessed at the new township average of $673,176 would pay $2,356 in municipal taxes. <br /> <br />(<a href="http://www.zwire.com/site/news.cfm?newsid=17862268&BRD=1091&PAG=461&dept_id=425419&rfi=6" target="_blank" class="postlink">more</a>)</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> </table>
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