ROBBINSVILLE, NJ -- The Robbinsville Township Council passed the annual municipal budget Thursday night which, for the eighth consecutive year, includes a flat or reduced tax rate. Prior to the COVID-19 pandemic, Mayor Dave Fried was poised to propose a fifth straight municipal tax reduction "but that would not be prudent at this time," he said recently.
"It is not wise to cut taxes until we fully understand what we are facing in terms of the impact of the virus on the economy," Fried said. "By the same token, we will do everything on our part to reduce stress on local families.
The Robbinsville 2020 municipal budget, totaling approximately $25.3 million, maintains the tax rate of 51.8 cents per $100 of assessed value, with the average assessed home in Robbinsville valued at $377,000. A penny in the Robbinsville tax rate is worth $262,818.08.
The budget crafted by Fried allocates $200,000 for emergency supplies and equipment.Township debt is earmarked to be reduced by over $100,000 in the proposed budget, along with $900,000 for street repairs.
On Thursday, the Council also passed a resolution to provide approximately $4 million in short-term bond anticipation notes (BAN) to Hamilton Township at an interest rate of 1 percent. The neighboring community is facing $14.5 million in debt.
Know a story we should share with readers? Email editor Elizabeth Meyers and tell her about it.