discuss placing question on November ballot
Millstone officials
discuss placing question on November ballot
By alison granito
Staff Writer
As one of the fastest developing communities in Monmouth County, land preservation remains a hot issue in Millstone.
At last week’s Township Committee meeting, officials discussed how the township will continue to fund its preservation program in the future.
A recent memo from the township’s chief financial officer reported that the open space funding for the next several years was maxed out. The memo said the township must investigate alternate funding measures to replenish open space coffers since the money coming in from the tax is earmarked to pay off purchases.
Currently, township taxpayers pay 5 cents per $100 of assessed property value for open space. Last week, the committee agreed to place a question on the ballot in November asking voters to approve a 3-cent increase in the tax.
On a home assessed at $500,000, officials estimated the increase would mean an additional $250 a year in taxes. At its current level, the open space tax brings in $616,000 a year in revenue, officials said.
Although, the committee agreed to ask voters for the increase, it initially discussed asking voters to double the tax to 10 cents per $100. However, some committee members expressed reservations that such a dramatic hike may be hard for voters to swallow.
"I’m afraid that may scare people off," Committeeman Chet Halka said.
"I want to see this pass," said Committeeman Cory Wingerter, adding that he was hesitant to ask voters to approve a 5-cent increase.
Officials said the referendum on the open space tax was nonbinding. If voters approve the hike, the committee can vote to raise the tax up to 8 cents per $100 of assessed property value in the future, but cannot exceed the amount approved by voters. The committee cannot take action to raise the open space tax without voter approval.
If voters approve the tax hike, the additional funds that come in over the next several years could be used to fund additional purchases, officials said.
Committeeman Cory Wingerter noted that the township has funds due from the state which will go toward replenishing the preservation coffers. He said the township expected payment on approximately $6 million in grants for this year and next year.
Another official questioned how much the state funds would increase the township’s purchasing power.
"That is not free cash. We have to pay down what we haven’t paid down," Committeeman John Pfefferkorn said in reference to the debt incurred during bond issues for past purchases of open space and development rights.