The Township Committee unanimously introduced its proposed $10.8 million budget for 2014 at its meeting on Feb. 24.
By Nicole M. Wells, Special Writer
CRANBURY — The Township Committee unanimously introduced its proposed $10.8 million budget for 2014 at its meeting on Feb. 24.
According to the document, of the $10.8 million total, $6,747,579.90 is the amount to be raised by taxation. This represents an increase of $410,804.75 in the amount of taxes to be collected compared to last year.
Should the budget pass as proposed, the new municipal tax rate would increase 3-cents per $100 of assessed valuation.
The 2013 municipal tax rate was $1.832 per $100 of assessed valuation.
Under the proposed spending plan, the homeowner with the average home assessed at $602,748 would pay about $180 more in municipal taxes. This is an increase from last year.
The amount allocated for capital improvements in the proposed budget remains unchanged from last year, at $20,000, while the minimum library tax has increased, from $495,245, in 2013, to $522,192, according to the document.
The local tax for municipal purposes also increased, from $5,841,530.15 to $6,225,387.90.
Surplus for 2014 is anticipated to be $1,344,050, down slightly from 2013. Surplus in 2013 totaled $1,359,922.
The township’s total number of employees remained at 70, according to the document.
Overall, this year’s proposed spending is less than last year’s, by about $856,323.07.
Copies of the 2014 budget can be obtained at the township clerk’s office Monday through Friday, between the hours of 8 a.m. and 4 p.m. The clerk’s office is located in the municipal building.
The public hearing for the budget is scheduled for April 7 at 7 p.m. in the committee meeting room at Town Hall.

