Moorestown Introduces $23.9 Million Budget With Tax Cuts

Moorestown, NJ -- Moorestown Council introduced a $23,901,000 municipal budget Monday night that includes a small tax cut.

The owner of the average home assessed at $441,700 would pay $1,810.97 in taxes this year, according to Chief Financial Officer Tom Merchel. The municipal portion is $1,638.71, a decrease of $8.83 from last year. The library portion remains steady at $172.26.

The township saw a $42,023 increase in revenues over 2015, along with a $225,000 expected decrease on surplus reliance. There was also an $82,000 increase in collections on delinquent taxes. The ratable base also increased by $29,177,698.

Capital improvement costs increase by $131,500, but is offset by a $115,000 decrease in group insurance rates.

Overall, the budget is up from last year by about $89,000. The township is $1.82 million below the state's tax cap.

The Water and Sewer Utility Budget is $11,100,000, an increase of $1,919,000 over last year. The township spent $1.5 million above its contracted amount on water. The cost of the temporary treatment at the North Church Street Water Treatment Plant is listed at $488,500, with the capital improvement fund increasing from $50,000 to $800,000. Debt services increases to $295,000.

The public hearing and final vote on the budget will take place on May 23.