Moorestown Introduces Budget With 2 Percent Tax Rate Increase

Moorestown residents will see a 2 percent tax rate increase if the proposed budget introduced Monday night is approved.

Moorestown Council a budget that carries a tax rate of .412, which translates to an 8 tenths of a cent increase on Monday night. The average homeowner of a $446,500 home will pay $1,840 in taxes, an increase of $36 annually.

Council approved the budget on introduction with a 4-1 vote, with Moorestown Mayor Victoria Napolitano casting the dissenting vote.

Napolitano didn’t elaborate on her vote when questioned by Democratic Party Chairman Robert Gorman during the public comment portion. She did say she didn’t propose cutting anything out of the budget.

The public hearing is set for May 18.

The current fund for the budget is $23,812,000, with a water and sewer fund of $9,181,000.

The increase includes a 1 percent increase in the library budget, which is mandated by the state. The other 1 percent is the municipal increase.

The municipal increase is due to a $203,000 increase in budget appropriations and a $233,000 decrease in revenues, according to Moorestown Chief Financial Officer Tom Merchel.

Merchel said the decrease in revenues was due to the Township using less surplus and collecting less in delinquent taxes this year.

According to Merchel, the Township made up for delinquent taxes not collected the previous year last year, but that resulted in less money collected in delinquent taxes this year.

The Township used $2,030,000 in surplus, leaving about $5 million in surplus money remaining.

There were no cuts in staff or services, Merchel said.

On Monday night, Moorestown Council also passed an ordinance on first reading to exceed the budget appropriation limits and establish a cap bank. Township Manager Scott Carew pointed out the ordinance only established a cap bank, and that the Township was nowhere near the 2 percent cap established by the state.

The budget introduction was one of two “Budget Resolutions” Monday night. The other item listed under “Budget Resolutions,” passed unanimously by council, called for the establishment of the tax levy of 1 cent per $100 of assessed property value for the Moorestown Open Space, Recreation and Farmland and Historic Preservation Trust Fund Program.