Call it the old one-two punch. With the school budget having just been passed on April 19, Plainsboro Township Committee adopted its adopted its 2005 budget on April 27.##M:[more]##
“The budget represents our continued effort to manage the tax rate and the modest increase represents that,” says Administrator Bob Sheehan. “We recogzize that there are other tax bills our residents have to pay. I think we have been able to keep the increase at a modest level while still maintaining services our residents expect.”
The $18,”172,”876 budget calls for a municipal tax rate of .2053 cents per $100 of assessed value representing an approximate increase of 1.46 cents over last year. The approved budget is $255,”500 less than initially presented. Last year’s budget was $16.9 million.
“The goal in Plainsboro for years has been to maintain a stable tax rate,” said Plainsboro Mayor Peter Cantu. “This budget meets this goal in a challenging year where state aid did not increase. Since 2001, the municipal tax rate has only increased by a modest 3 cents. Municipal tax stability has been particularly important in the face of dramatic increases in school taxes over the past three years.”
Based on numbers provided by Plainsboro Township and the West Windsor-Plainsboro school district, the average Plainsboro property owner will pay about $150 more in municipal taxes and approximately $1,”200 more in school taxes over last year.
Factors adding to the budget increase include costs related to the revaluation ($374,”000), increased contributions to the Plainsboro Rescue Squad ($18,”000) and Historical Society ($10,”000), as well as increases in utility costs ($31,”000).
But according to Sheehan, the most significant increases were due to personnel costs, which make up about 56 percent of the budget, including unemployment insurance, health benefits, and pensions at about $442,”000.
The township also dipped into surplus funds for about $5.5 million (leaving a projected $3.5 million surplus), increased in municipal court fees and raised revenues, including $380,”000 in new hotel tax funds as well as $2.2 million in anticipated state aid. Plainsboro also received a $1.1 million grant from the state and federal government. “We make every effort to take advantage of outside funding,” said Sheehan.
