No Tax Increase In This Year's Cinnaminson Township Budget

CINNAMINSON, NJ — At a time when people are out of work and the future is uncertain due to the outbreak of new coronavirus, Cinnaminson residents got some good news from the township Monday night: their taxes will hold steady.

Cinnaminson Township Committee unanimously approved a $15,867,247 budget with no tax increase during their meeting held via Zoom Monday night.

While the budget itself is up $105,137.00 from last year, the tax rate for 2020 is .616, the same as 2019. The owner of the average Cinnaminson home valued at $234,000 will continue to pay $1,442.00 annually, the same as last year.

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The township is also not cutting any services, and no employees are being laid off, officials said. It uses 22.45 percent of the township’s fund balance ($2,060,000 out of a total of just over $9,000,000), is $413,091 under the state levy cap and is $41,069 under the state appropriations cap, according to officials.

The fund balance is the highest it’s been in 19 years, according to Chief Financial Officer Julia Edmondson. She said Township Committee has been dedicated to maintaining a healthy fund balance and surplus.

“Maintaining a healthy surplus helps us maintain our services,” Township Manager Eric Schubiger said.

The municipal component is 17 percent of the total local property tax bill. The school district makes up 64 percent, while the county is 12 percent and fire districts are 6 percent, according to a pie chart presented during the public hearing.

“The no tax increase municipal budget is a result of the Township's commitment to continually seek out additional efficiencies, cooperative purchasing avenues, shared services, a low debt level, and closely monitoring expenditures and revenues throughout the year,” Schubiger said.

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