VILLAS – The public hearing for Lower Township’s 2021 budget, which includes a 1.99-cent tax rate increase, was delayed by a lack of revenue information from the state, according to Auditor Leon Costello.
“We’re waiting for a ruling from the state before we can finalize the budget process. It should come any day,” Costello said.
The tax rate increase was attributed to reduced revenues due to the Covid pandemic. Revenues from court fees, recreation, and state aid were all affected by the pandemic and led to the rise in the tax rate of the $22.2 million budget.
The municipal purpose tax rate for 2021 is 60.4 cents, or $604 per $100,000 of the assessed value of a property.
The budget includes $4 million in surplus funds used to offset the budget. The surplus fund balance will be $3.5 million.
The 2021 budget follows a zero-tax rate increase, in 2020.
Costello and Chief Financial Officer Lauren Reed presented the budget at the March 1 Lower Township Council meeting (https://bit.ly/31W8bDP). Costello told the council the municipality remained $1.6 million under what the state allows them to spend.
The public hearing on the budget will be set once the state information is received.
Copies of the proposed budget are available at Township Hall, 2600 Bayshore Road, Villas, or online, at https://bit.ly/31Wy8mK.
