Public hearing and adoption vote set for June 11 meeting
By John Tredrea
A proposed $19,149,693 municipal budget for 2007 was unanimously introduced by the full Hopewell Township Committee Monday night.
The proposed budget, up $82,828 from last year, is scheduled for a public hearing and adoption vote at the June 11 committee meeting.
Township officials said the proposed spending plan includes no major changes to township government. If adopted in its present form, the budget would yield a municipal tax rate increase of 1 cent per $100 of assessed property value, to 25 cents.
As Committeeman Mark Iorio pointed out, the township’s open space tax rate will go down 2 cents this year, to 2 cents per $100 of assessed valuation. That reduction was approved by the voters in a referendum at last November’s general election.
This 2-cent slash coupled with a 1-cent increase in the proposed municipal spending plan translates to a net 1-cent reduction.
For a home assessed at $549,400, the township average, an overall municipal tax rate reduction from 24 cents to 23 cents translates to an annual savings of $55, from $1,318 to $1,263.
There will be a detailed presentation on the budget at the June 11 session. The budget is slated for publication in the May 24 edition of the Hopewell Valley News. Copies will be available this week at the municipal building and on the township’s Web site, officials said.