Slight Tax Increase Projected in Chatham Borough
Final numbers are yet to be determined, councilman says.
Chatham Borough Councilman James Lonergan said borough residents could face a tax rate increase of between 1.5 and 2.5 percent. The borough has felt the pinch of several declines in revenue, Lonergan said, including a decline in the tax base, decline in state aid and a decline in the reserve for uncollected taxes. "We've tried to make up the difference," Lonergan said. Because the tax rate increase is limited by the state, that difference has usually been made up through user-based fees, such as water and sewer rates. The reserve for uncollected taxes has also helped fill the hole made by the economic decline. Now, Lonergan said, the borough has to replenish the funds. "This is one of the things the credit agencies look at when they give …
John
1:10 pm on Thursday, January 31, 2013
That comment shows a complete lack of understanding for where the majority of our property tax dollars go which is to schools and to Trenton. You can merge all the Police and DPW's you want. It will have almost no effect on your property tax bill but a huge effect on the excellent services which we have become accustomed to. I'm not giving up my own P.D. and DPW to save $100 a year on a $15K … more ›