Council Introduces Budget With No Tax Rate Increase

When introduced Monday night, the 2014 municipal budget was $23,608,702, with no proposed tax rate increase.

The introduced budget includes $1,509,300 to be raised by taxation. The average Moorestown home assessed at $445,300 would pay $1,799 in taxes annually.

“I’m happy with the zero tax increase, but we have more to do,” Mayor Chris Chiacchio said. “We still have to identify areas of savings and start finding other revenue sources.”

He said the biggest item in the budget is employee costs, which amount to about $11 million. Health care costs are down slightly this year. There are about 80 employees this year, compared to about 88 last year and employees are contributing to their health care plans. The township saved money by outsourcing its trash collection.

The total amount the township proposes spending on capital improvement projects is $9,900,000, including $4,810,000 for street resurfacing; $2,445,000 for the purchase of vehicles and equipment for Public Works; and $1,030,000 for the purchase of police vehicles and equipment, among other items.

The township also set aside $10,107,500 for utility projects, including $5,000,000 for replacement and upgrades of water mains and $3,000,000 to install automated water meters.

The total for all projects is $20,007,500.

The township intends to use $2,115,000 of its $2,311,600 anticipated surplus.

The public hearing on the budget is set for June 9 at Town Hall, 111 West Second Street.

The budget is available in its entirety on the township’s website.