By AUBRIE GEORGE | The Moorestown Sun
Township officials have been discussing a 2010 municipal budget that could include a tax decrease for Moorestown residents, but last week officials discussed whether or not a decrease would be in the best interest of planning for future, sustainable budgets.
Township finance director, Tom Merchel, said a tax decrease might not be in the township’s best interest this year due to millions in outstanding tax appeals still left over from the township’s 2008 revaluation. Many of those appeals, he said, could be heard this year.
Merchel said the township currently has about $1.4 million in a reserve to pay for any lost appeals. If the township owes more in lost appeals, council could be faced with a shortfall for next year’s municipal budget.
Merchel said it might be smarter to keep the tax rate flat in an effort to plan for future, sustainable budgets. He said a flat tax rate would generate an additional $375,000 for the reserve to pay back lost appeals and would allow the township to generate surplus for next year.
See this week’s print edition of The Sun for the full story.
