FRANKLIN TOWNSHIP, NJ - Homeowners may pay about $20 less in township property taxes on the municipal portion of their bill this year if the proposed 2017 budget is passed by the council.
Township Manager Robert G. Vornlocker, Jr. submitted the CY 2017 budget with a decrease of $181,604 in total appropriations and Mayor Phillip Kramer presented a 1.48 percent cut in municipal taxes.
This year's budget was $59,488,016 versus last year's proposed budget of $59,306,412.
The largest expense on the budget is salary and wages which is anticipated to be 39.2 percent of the total budget.
Vornlocker's manager statement said "This CY 2017 Municipal Tax reduction has been achieved despite a flat projection of revenues and significant increases in Group Health Insurance and Pension costs. The CY 2017 Budget continues to demonstrate the Township’s prioritization of improved efficiency and effectiveness, careful spending, and also working towards providing increased services, responsiveness and convenience for our constituents."
The township is expecting to raise $34,961,693 in taxes with this year's budget, and will use $6,195,594 from the surplus fund balance to help pay for expenses.
Remaining revenue needed to pay for budget would come from local, state, uniform construction code, inter-local agreements, grants, and other special revenue items.
Average home value in Franklin Township is $318,035, and the municipal tax rate will be 0.368 percent, according to township officials. This will give the average tax payer a municipal bill of $1170.
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