Government

Building Only a Municipal Complex Adds $240 to Tax Bill; Add Hamilton Avenue and Tax Bite Drops to $70

05ca81046cdc58d72d1f_image6__2_.JPG
Credits: Barbara Rybolt
420a8739a03a4b12c2e6_image7.JPG
Credits: Barbara Rybolt
e1eab4cbdd72faf1f03c_image4__6_.JPG
Credits: Barbara Rybolt
bc1649280d36b6d141ef_image5__7_.JPG
Credits: Barbara Rybolt
2819a1b7ae29b73238a5_image3__10_.JPG
Credits: Barbara Rybolt
05ca81046cdc58d72d1f_image6__2_.JPG
BERKELEY HEIGHTS, N.J. - The decision of whether to build only a municipal center on Park Avenue or to buy property owned by the Church of the Little Flower on Hamilton Avenue and sell the church the library seems to come down to a straight financial decision, not an emotional one.
 
According to figures presented by the township's Chief Financial Officer Michael Marceau, property taxes to support the plan to build a new municipal complex on land owned by the township on Park Avenue will add an estimated $240 to residents' property tax bills. That is called  "Scenario #2"  
 
 
Scenario #1, building the "Park Avenue Municipal Complex and Townhouses at Hamilton Avenue," according to the handout presented to residents, will add an estimated $70. Under that scenario, the township would buy the Hamilton Avenue property belonging to the Chuch of the Little Flower and sell the church the township's library; create a redevelopment plan for the Hamilton Avenue property, sell it to a developer and build the municipal complex on Park Avenue. 
 
According to Marceau, the difference in cost to residents comes from monies received by the township when the Hamilton Avenue property is sold to a developer for an estimated $10 million. 

 
In both scenarios, the cost of the new municipal complex remains the same, $27,234,000.
 
In Scenario #1, he added the agreed upon net costs of the land purchase, $2,845,000 to the estimated cost of the Park Avenue Municipal Complex, $27,234,000, and subtracted the estimated sale price of the Hamilton Avenue property, $10 million.  That leaves $20,079,000 to be financed by the township.
 
In Scenario #2, the township keeps its current library and there is no income to offset the costs of the construction of the new municipal complex, so the township will need to finance the full $27,234,000. 
 
The increases were calculated on the "average assessed residence" which is currently $308,100 - a figure which translated into a "fair market value" of $550,179, according to the handout.
 
Those who want to calculate their individual tax impact should multiply the "fair market value" of your home by .56 (56 percent), then multiply the assessed value by a factor of 0.00077 to get the tax impact.  
 
The township would issue Bond Anticipation Notes then, after no more than six years, convert the debt to bonds. "We want to get the debt down" as quickly as possible before the bonds are issued, Marceau said.
 
There were questions about the ability to forecast where rates would be in six years, 2022, and Councilman Kevin Hall said, "If the rate structure changed, we could go to bonding (earlier) to save money."
 
Hall indicated that the next meeting would not only focus on the Plan C proposal for the municipal complex on Park Avenue but also on the tax impact for residents.
 
Click here to see related handout from Aug. 4 Township Council Meeting.

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

Berkeley Heights

I will draw on my experience to deliver a great future for Berkeley Heights

May 22, 2018

I am impressed with the day-to-day leadership of our Mayor and Town Council and I hope to help them continue to do great work. As I have been doing my research since deciding to run for a seat on our Town Council, I have learned a few things about all the work that has been happening in recent years.  For example, while plans for the Stratton House development were recently announced, our ...

Christopher Rinaldi for Town Council - Leadership, Judgement, Experience

My name is Christopher Rinaldi.  As a long-time member of the Republican Party, I am running in the Republican Primary on June 5th for Township Council and Republican Municipal Committee of Berkeley Heights.

As a follow-up to my Candidate Statements from the last two weeks, I would like to share with you a few areas of direct work experience garnered over the past 25 years that I believe ...

Redevelopment: Taking the First Step Together While Protecting Berkeley Heights

Redevelopment. It’s something that takes careful planning, foresight, the ability to negotiate for the most favorable outcome, and, of course, patience. I’m proud to say that we’ve been able to reach all of these milestones. Tomorrow, on Wednesday, May 16, 2018, we as a community will take the first step together in the culmination of these efforts, when the ...

How the Holi Color Festival Came to Summit; Event Planner Shares Her Story

May 21, 2018

Back in India, Holi was a holiday observed by almost all states. The holiday would be declared at all educational institutes and offices. It's a two day spring festival also known as the festival of colors. The festival signifies the victory of good over bad, the arrival of spring with the fragrance of flowers in the air and aura of warmth and happiness.

Holi festival is the time ...

Rain Didn't Dampen Our Vision for Art in the Park

The rain did not dampen our vision for Art in the Park!! Columbia Middle School was transformed into an art paradise, filled with an array of artists whose talents are nothing short of magical! The Peppertown Park Art in the Park Committee would like to thank all of the artists who came to our very first Art in the Park event. We are in awe of your creativity and immeasurable talents! You all ...

Mindfulness Meditation Session Begins Program on Nutrition at New Providence Library

May 23, 2018

Dr. Kavita Kewalramani, a board certified Internist at K Primary Care and Medical Nutrition Center in New Providence, will start with a short mindfulness meditation session, followed by the latest research on how mindful nutrition helps to improve your health and weight. Dr. K will also share a recipe for healthy protein bites which will be sampled by the audience, and discuss her weight loss ...

Amazon’s Career Choice program wins “Community Excellence” award

EDISON, NJ - Amazon’s Career Choice program recently received the “Community Excellence” award from the New Jersey Community College Consortium for its impact on the local community.

Steven Johnson, Amazon’s Director for Associate Development, was on hand to accept the award and lead a panel discussion on how the program provides trained, motivated employees for ...

Michelle Greco: The Logical Choice

Credentials and Expertise.  These are basic qualities that any headhunter, supervisor, manager, or hiring partner demands when looking for a new work colleague to bring on board.  

It comes as no surprise, then, that the Berkeley Heights Republican Municipal Committee (RMC) engaged in the same analysis and looked for these essential criteria to fill Republican ...

Fallout Continues from Lawsuit Against Mountainside; Police Chief on Administrative Leave

May 19, 2018

MOUNTAINSIDE, NJ – Police Chief Allan Attanasio is the latest member of the police department to suffer repercussions from a complaint filed against the borough on May 11.  Attanasio, who is not named as a defendant in the lawsuit, was “placed on administrative leave,” on Thursday by Borough Administrator and former Police Chief James Debbie, said  Lt. Joseph ...

Video Shows School Board Member In Altercation With Police at Traffic Stop in South Orange

May 16, 2018

SOUTH ORANGE, NJ - South Orange Maplewood School Board Member Stephanie Lawson-Muhammad got into an altercation with a South Orange police officer who stopped her for speeding last month, in which she used profanity, complained when she was issued a ticket and called South Orange Police Chief Kyle Kroll “a skinhead cop.”

Lawson-Muhammad also appeared to suggest that she would ...

Upcoming Events

Thu, May 24, 9:30 AM

Junior League of Summit Thrift Shop, Summit

Here Comes Summer! Junior League of Summit Thrift ...

Giving Back Green

Fri, May 25, 9:30 AM

Junior League of Summit Thrift Shop, Summit

Here Comes Summer! Junior League of Summit Thrift ...

Giving Back Green

Sat, May 26, 9:00 AM

Miller-Cory House Museum, Westfield

Aunt Carrie's Attic Sale

Giving Back Other

Sat, May 26, 11:00 AM

Home For Good Dog Recue, Berkeley Heights,

Dog Adoption

Other

Sat, May 26, 2:00 PM

New Providence

Memoir Writing Workshops @ NPML

Arts & Entertainment

Thu, May 31, 11:30 AM

Canoe Brook Country Club, Summit

Fortnightly Club Scholarship Luncheon

Food & Drink Giving Back

The Evaluation of the College Search

It’s is a bizarre time of year as a college counselor as I find myself at both the beginning and end of this process.  Sophomores and juniors are excitedly and idealistically starting to consider what will be important to them in a school.  At the same time, while only separated by a year or two, my seniors have all committed within the past month to a school and have spent the ...

Don’t Make These Three Mistakes About Social Security

Social Security has been around for decades and it’s not about to disappear. Why? Social Security is not an entitlement ("gift") that can be taken away - it’s a forced savings scheme that Americans pay into in their working years in order to secure a pension for life. Ideally, Social Security should not be your sole source of income in retirement but even comfortable ...