Rate to drop more than 2 cents
By:
Burlington County homeowners will see the largest decrease in the county tax rate in 11 years under the $169.9 million budget reviewed by Burlington County freeholders during their work session March 20.
Formal budget introduction was scheduled for Wednesday.
Freeholder director Dawn Marie Addiego said the tax rate will drop more than 2 cents to 46.2 cents per $100 of assessed property value.
The owner of a home assessed at $150,000 will pay $694 in county taxes, or, $31.32 less than last year.
"This cut in the county tax rate helps balance the equation at a time when many local and school tax rates are slated to increase," said Ms. Addiego. "At the same time, we are continuing our investment in education, while rapidly moving ahead with our plan to create a new county parks system.
"This budget will also show that in the wake of last year’s terrorist attacks, we are continuing to bolster emergency management."
While the actual tax levy the amount to be raised by taxes is increasing by $3.2 million, to $117.9 million, County Treasurer/Comptroller Arthur J. Collins, III said that most, if not all, of this increase will come from new construction ratables.
Officials said overall, ratables are increasing 7.4 percent, to a total of $25.5 billion. The largest ratable increases are in Burlington Township, Mount Laurel, Evesham, Moorestown, Mansfield, Medford and Lumberton.
"It’s encouraging that increases in the county budget are offset by increases in new tax ratables," Ms. Addiego said. "Not only are we meeting the demand for services as our county grows, we are also marking the 22nd year that the county tax rate has decreased or stayed the same."
Overall, the county tax rate has dropped nearly 15 cents since 1980. The two-cent cut in the tax rate this year is the largest since 1991, when the rate was trimmed by 3.38 cents to 54.88 cents.
While the budget bottom line reflects an increase of $10.9 million, most of the increased spending (78 percent) is attributed to salary and wage contracts, fixed costs such as insurance and medical benefits, and pass through state grants which increase both the revenue and expenditure sides of the budget.
However, freeholders are increasing operating subsidies for all three county schools, including Burlington County College ($450,000); Burlington County Institute of Technology ($801,350); and Burlington County Special Service School District ($437,500).
Capital expenditures also are projected for all three schools, with the largest allocation amounting to the 3-year, $26.7 million expansion of the Westampton and Medford campuses of Burlington County Institute of Technology.
The total amount budgeted for education comes to $26,908,881 or nearly 22.8 percent of the county’s tax revenues. Capital improvements for education also account for 27.1 percent of the county’s total debt service.
The budget reflects the freeholders’ plan to create a new county parks system, with parks and land use operating budgets increasing 21 percent to $1.1 million.
Another $4 million has been earmarked in the capital plan to begin building trails and other recreational facilities on county-owned parklands.
The county also is continuing its assault on West Nile Virus by earmarking an additional $144,764 for the Highway Department, which includes mosquito extermination.
The county’s commitment to emergency management, and anti-terrorism preparedness is reflected in a 9-percent increase in this budget, bringing total expenditures to $5.3 million.
Officials said economic development and regional planning remains a major initiative area for the county, and overall expenditures are increasing from $394,124 to $586,341.
The department is responsible for both the Route 130/Delaware River Corridor Revitalization Project and the Route 206 Farmland Study.
Mr. Collins noted that the county tax rate is based on 100-percent assessment. Therefore, the rate in each municipality may vary slightly, based on an equalization formula designed to ensure that each town pays its fair share, based on market value.
In municipalities where property is assessed at more than 100 percent of value, the rate will be lower. Those towns which are underassessed will have a slightly higher rate.
This calculation known as the "equalized ratio" is established each year by the state Division of Taxation in accordance with statutory requirements.