Mayor Chuck Cahn said he anticipates no municipal tax increase for Cherry Hill residents in the 2017 fiscal year.
While it will be a few months before Cherry Hill Township’s 2017 municipal budget comes up for a vote, it appears Cherry Hill residents won’t have to worry about their municipal tax bill going up.
Cherry Hill Township Council approved its preliminary tax levy at its meeting last Monday. For the fifth consecutive year, there is no increase in the preliminary tax rate for Cherry Hill residents. In addition, Mayor Chuck Cahn said in a statement the tax rate will likely remain flat when the 2017 municipal budget is introduced to council later in the summer.
“My administration is in the process of developing our full budget for the coming fiscal year, and I am proud to say that we anticipate no increase in municipal taxes for the fifth year in a row,” Cahn said in a statement.
Township residents have not had an increase in the municipal tax rate since Cahn took office in 2012. The total preliminary tax levy approved last Monday amounts to $44.39 million.
Council annually passes a preliminary tax levy in June of each year. The preliminary levy is used to calculate municipal tax bills for the first six months of the fiscal year. The 2017 fiscal year begins on July 1.
Cahn said he and his administration are in the process of developing the municipal budget for fiscal year 2017. He said he remains committed to fiscal responsibility while still maximizing the services Cherry Hill Township provides for its taxpayers.
It will be a little more than a month before more details on the 2017 municipal budget come out. Township director of communications Bridget Palmer said the budget will likely be introduced to council at a meeting in August, with final adoption likely to follow in September.