Property taxes rose moderately in South Jersey last year, at least by Garden State standards, new figures show. And most tri-county towns ranked well back in the statewide pack in terms of their local increases.
How is this for helping out the average Joe. Believe it or not Mayor Bernie Platt proposed a 3 cent cut in the tax rate Septe 14th. This 3 cent cut in the tax rate will result in a $52 savings for the average home owner in Cherry Hill with a house rated at $140,000.
So how are they paying for this, you ask? Well, the township has been reducing costs by consolidating services, freezing payroll, and laying off staff. Fourteen employees were laid off last year which came out to a savings of $800,000.
The township has also been using green energy initiatives to help reduce the budget requirements. A solar panel project is set for installtion this fall which is expected to save $56,000 a year, and a new HVAC system is epected to reduce energy costs by another $36,000 annually.
In June council members approved a preliminary tax levy that assumed a $1 million budget cut. That was expected to keep municipal taxes at the fiscal 2009 level, which is approximately $1,180 a year for municipal taxes.