Already walloped by a big school tax increase Plainsboro residents will also see a modest increase in municipal taxes under the 2005 budget introduced by Plainsboro Township Committee on March 23.##M:[more]##
“The goal in Plainsboro for years has been to maintain a stable property tax rate,” said Plainsboro mayor Peter Cantu. “This budget meets this goal and does so in a challenging year where state aid did not increase. Municipal tax stability has been particularly important in the face of dramatic increases in school taxes over the past three years.”
The budget totaling $18,”172,”876 was whittled down from an earlier estimate of $18.4 million. (The township’s 2004 budget was $16.9 million budget.) Contributing to the budget increase is $18,”000 for the Plainsboro Rescue Squad, $10,”000 for Plainsboro’s historical society, and $374,”000 to help pay for the revaluation as well as rising insurance, pension and utility costs.
But despite a decrease in the tax rate — from 34 cents per $100 of assessed value last year to 20.5 cents in 2005 — homeowners will be paying more. Following last year’s revaluation, the average Plainsboro home went from $190,”700 to $395,”000. This will increase the average homeowner’s municipal tax bill by $174 (from $636 last year to $810 in 2005).
But officials say that the impact of the new tax rate compared to last year’s rate will vary greatly from homeowner to homeowner. Some homeowner’s may see sharp increases in their taxes, others may see only modest increases or even a small decrease.
In an effort to contain spending, four existing staff positions are to be eliminated under the 2005 budget: clerk’s receptionist, transportation planner, communications director and community-development secretary. The budget also calls for a new position in the municipal court offices to handle increased demands.
According to Township Administrator Robert Sheehan, costs related to employee wages and benefits account for about 56 percent of the total budget. The amount of money the job cuts will save will be $86,”150 for the last half of 2005 and $222,”100 in 2006.
In order to reduce the burden on taxpayers, Plainsboro officials say the township is dipping into its surplus fund for $5.5 million towards tax relief (equal to last year’s total), leaving a projected $3.5 million in surplus. The 2005 budget benefits from an increase in municipal court fees, which have increased $103,”000 from 2003 and 2004. Additional revenues include $380,”000 in new hotel tax funds, and $2.2 million in anticipated state aid.
Plainsboro officials point out that the township has had the lowest municipal tax rate in Middlesex County for the past nine consecutive years. A public hearing on the 2005 budget is scheduled for Wednesday, April 27 at 7:30 p.m. at the Plainsboro Municipal Center.
