Politics & Government
Hightstown May See No Tax Increase This Year
CFO says a flat tax is a possibility.
Keeping the municipal tax rate in Hightstown the same as last year is a possibility in 2011, according to Chief Financial Officer George Lang.
“I don’t see any reason why we can’t hold the tax rate if that’s what the council wishes to do,” he said at the Borough Council’s Monday meeting, adding that numbers were still coming in.
In a 2011 budget projection he presented, Lang anticipated a slightly lower overall budget this year—about $6.2 million for 2011 as compared to just over $6.3 million in 2010—and a flat amount to be raised by taxation of about $4.3 million.
Lang also projected higher surplus funds balance this year—$218,613 in 2011 versus $118,000 last year.
“What we’re trying to show here is that it is doable that we can have a flat tax for next year, however this is a lot more work that the council’s going to be delving into in next year’s budget,” said Borough Administrator Herbert Massa. “We may have turned the corner somewhat.”
“The overall picture that Mr. Lang is presenting is somewhat better than it was this time last year,” he added.
In his Tuesday, Gov. Chris Christie pledged to keep municipal aid numbers flat. On Wednesday, the state released those figures. Hightstown will receive $503,550 in state aid for the second year in a row, as Borough Administrator Herb Massa said Wednesday the borough had expected.
Below is the comparison between the 2010 budget and the projected 2011 budget shown in Monday night’s presentation:
2010
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Projected 2011
Revenues
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Surplus Anticipated
118,000
218,613
Miscellaneous Revenues
1,425,424.49
1,350,000
Delinquent Taxes
480,000
350,000
Subtotal
2,028,424.49
1,918,613
Amount to Be Raised by Taxation
4,279,012
4,279,012
Total Revenue
6,307,436.49
6,197,625
Appropriations
Salaries and Wages
2,627,558
2,487,558
Other Expenses
2,249,368.76
2,194,357
Statutory and Deferred Charges
404,569.30
489,570
Capital
1,000
45,000
Debt Service
424,940
431,140
Reserve for Uncollected
600,000
550,000
Total Appropriations
6,307,436.06
6,197,625
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