MONROE- Plan would enable town to bond $4.7 million in 20 years
By: Al Wicklund
MONROE The Township Council will vote Monday on whether to authorize a question on the November ballot on whether the township should add 1½ cents to the municipal tax rate for an open-space fund.
The council cleared the resolution for consideration earlier this week at its agenda meeting.
If the council approves the authorization no one spoke against it this week the voters will have the final say in the general election.
Wendy Matson, the township’s chief financial officer, said Wednesday the proposed tax increase would generate $375,000 each year
When first considered, the council was looking at a 1-cent increase in the tax rate, but, Ms. Matson said, that increase would have brought in about $250,000 and would not have been enough to qualify for the state’s land-acquisition programs.
She said that over the span of 20 years the fund would enable the township to bond for approximately $4.7 million to go toward the preservation of open space, farmland and recreation areas.
She also said such a fund would enable the township to qualify for a variety of state Green Acres and open-space programs.
Mayor Richard Pucci has said he would be surprised if voters didn’t support a a minimal open-space assessment.
In Monroe, the expenditure of $250,000 equals about 1 cent in the tax rate. The owner of a home assessed at the township average of $141,817 would pay $21 a year toward the open-space fund.
Township Engineer Ernie Feist has said such a fund could make the township eligible for additional state money for open-space acquisition through Green Acres funds.
Council President Irwin Nalitt said an open-space assessment not only would set up a helpful fund for open space, but would send a message.
"It would demonstrate our commitment to preserving open space," Mr. Nalitt said.
At the present time, nine of Middlesex County’s 25 municipalities have taxes dedicated for open-space funds.
Neighboring municipalities Cranbury, East Brunswick and South Brunswick are among those with dedicated assessments. They have open-space rates of 2 cents per $100 of assessed valuation.
East Brunswick and South Brunswick have annual open-space tax proceeds of about $700,000. Cranbury, a smaller community, reaps $70,000.
Last year, Monroe Township’s voters strongly supported an increase in Middlesex County’s open-space tax. They supported a boost from 2 cents to 3 cents per $100 of assessed valuation by a vote of 905-678.