Moorestown Council Approves Budget With Tax Decrease

MOORESTOWN, NJ — Moorestown Council approved the proposed $25,592,000 budget that includes a 1.22 percent tax decrease Monday night. The owner of the average $450,470 home would pay $1,819.89 total local purpose tax. That includes $1,648.72 in municipal taxes and $171.18 in library taxes. The municipal tax represents a $22.53 decrease from last year, while the library tax would hold steady.

The water and sewer utility budget sees a decrease of 5.28 percent. The proposed budget was $10,500,000, which was a decrease of $585,000 from last year.

“While state politicians in Trenton argue over which of our taxes to increase, we are proud to announce that the Moorestown Town Council has passed a 2018 budget that will cut municipal taxes for our residents for the third year in a row,” Moorestown Mayor Stacey Jordan and Deputy Mayor Manny Delgado said in a statement. “With two upgrades to our municipal bond rating in the last four years, higher ratables from new businesses opening their doors, and independent financial agencies like Moody's stating that Moorestown is exhibiting strong financial management, our town is in great shape heading into the future.

“Every year, town council works closely with our municipal staff to craft a budget that is thoroughly reviewed, vigorously scrutinized, and ultimately keeps our services at a quality level without increasing the burden placed on our taxpayers. Meetings are held at all hours of the day to allow more residents the opportunity to give their thoughts on Moorestown's budget, and hundreds of thousands of dollars in grant funding have been secured — allowing the Township to complete new projects that benefit the community without having to raise taxes.

“The Fiscal Year 2018 Budget will fund continued improvements to our water infrastructure, the repaving of roads around town, and the beautification of Strawbridge Lake. It will fully fund the operations of our incredible officers in the Moorestown Police Department, acquire new vehicles for Public Works, and fund the construction of new softball fields, lacrosse fields, and new lighting at Memorial Field for our town's children. It will utilize the $1 million grant received for the revitalization of Lenola, continue to support programming for special needs individuals and their families, and protect our open spaces while keeping the door open for potential new acquisitions to our preserved land roster.

“This will all be done while reducing the tax burden on our citizens and maintaining a healthy surplus of over $7 million by the end of the year. This number is approximately $2 million higher than when we started our current term on Council, acting as a safety net for our town from unexpected revenue losses or costs in the future. Our town now boasts a AAA bond rating, giving us the highest bond rating in Burlington County and one of the highest bond ratings in the entire state.

“We are thrilled to deliver tax relief for our neighbors, and will continue working hard to keep moving Moorestown in the right direction.”

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