$60 million in new assessments fuels tax cut
John Tredrea
The Hopewell Township Committee voted 5-0 March 16 to adopt a $13.15 million budget for the year 2000.
Municipal property taxes will drop 4 cents, to 21 cents per $100 of assessed property value, according to the proposed budget. The new budget exceeds last year’s $12.01 million budget by about 9.5 percent.
This year’s budget also increases the township’s surplus, from $2 million to $3 million.
Over $60 million in new tax assessments, including a major expansion of the Bristol-Myers research center off Titus Mill Road in the eastern township, are enabling the township to increase its expenditures and its surplus while cutting taxes, said Pete Raynor, acting township administrator.
None of the new revenue comes yet from Merrill Lynch’s 3.5 million square foot, 11,000-worker office park under construction off Scotch Road and I-95 and Scotch Road in the south-central township, Mr. Raynor said. However, the office park is expected to help the township continue lowering taxes.
“We have several buildings from Merrill coming on line (as new tax ratables) this year,” Mr. Raynor said.
The controversial Merrill Lynch project, which prompted bitter public opposition, was unanimously approved by the township Planning Board two years ago. Some who opposed the project said any tax relief it might bring would be offset, or more than offset, by the demands of new housing construction prompted by the new office park.
This year marks the third year in a row that township taxes have been cut. They went down 4 cents last year and 2 cents in 2000.
For the owner of a township home assessed at $250,000, this year’s tax bill will drop $100 compared to 1999.
Among the items boosting township expenses this year is a $175,000 increase in the cost of providing health care to township employees. During the public hearing, township resident Bill Schoelwer said the township should look into trying to hold off a similar, or bigger, increases next year. Mr. Raynor replied that this effort already is underway.
Also during the public hearing that preceded the township committee’s adoption of the budget, Edmund Stiles, president of the Friends of Hopewell Valley Open Space, said he was glad to see taxes being cut for the sake of seniors on fixed incomes and others in tight financial straits.
However, Dr. Stiles urged the committee “to seek other ways to give relief to people in need rather than lowering taxes for everybody.”
Maintaing the tax rate would make more money available for the purchase of land for open space and farmland preservation, he said.