2-cent tax decrease on tap for Monroe.
By: Al Wicklund
MONROE A township budget with a 2-cent decrease in the tax rate breezed through to approval by the Township Council Monday.
The council approved the $25.6 million budget unanimously, 5-0. There was no comment from the audience.
The amount to be raised by taxation for 2003 is $14.4 million, $460,708 more than last year.
Township Administrator Wayne Hamilton said, despite the increase, the tax rate is decreasing because the township’s tax base is growing.
He said there were 514 new homes sold in Monroe Township last year. These houses are part of the township’s tax base increase this year. He said tax base increased $170 million, going from a total assessed value of $2.49 billion last year to $2.66 billion this year.
Mr. Hamilton said the budget has a rate of 54 cents per $100 of assessed value, down from last year’s rate of 56 cents per $100.
Annual taxes for municipal purposes on a property assessed at the township average of $148,485 will be $802, a $29.70 reduction.
On the down side, an unanticipated cost of almost $90,000 caused by the heavy snow in February will have the township using $65,000 in reserve to help meet the bills.
Mr. Hamilton has said the township will try to regain this money through aid from the Federal Emergency Management Agency later this year.
The township administrator said the capital improvement part of the budget is $5.155 million, with some 30 percent to be funded from county, state and federal grants and balances remaining from completed projects.
Capital projects include the purchase of library resource materials, road resurfacing, curb and sidewalk improvements, public building improvements, park and recreation facility improvements and installation of traffic lights.
This year, township taxpayers will begin paying the 1.5 cents Local Open Space Tax, approved by township voters in November 2002. The owner of an average home will pay $22.27 into the open-space fund.
The new tax will produce $375,000 a year to be used for the acquisition and preservation of open space.