Budget season is in full swing and Shamong plans to keep the municipal tax flat, a rate the township has maintained since 2018.
Township Manager and Clerk Sue Onorato presented the 2020 municipal budget to the Shamong Township Committee at its March 3 meeting.
The budget totals $3,467,975, with no increase in the tax rate.
For a home in Shamong with the average assessed value of $308,812, residents can expect to continue paying an annual average of $293.37 per $100 of assessed value.
“Our municipal purpose tax rate is expected to remain the same this year,” Onorato shared. “We’re making the assumption the county and school taxes go up to the full 2 percent increase. We’re projecting for our taxes to go from $8,592 for an average assessed home to $8,766 for the year.”
Projections were made based on assumptions that Burlington County and the school districts (Lenape Regional and Shamong) hit the 2 percent tax increase. Increases can surpass the 2-cent cap if there are contractual increases, capital spending or an acquisition of more interest-based debts.
Onorato reminded residents the school districts are losing portions of their state aid, and the losses have to “be made up somewhere.”
Locally, Shamong has cost-of-living increases (2 percent) across its departments. Onorato also budgeted for 27 pay periods in 2020 as the bi-weekly payments are slightly more.
Debts Shamong owes are low and Mayor Michael DiCroce said the numbers can fluctuate “like a rollercoaster” year to year as they depend on interest rates.
According to the township’s tax and financial offices, Shamong receives roughy 3.4 percent of the tax payments property owners make.
Revenues for the township include $1.4 million in the surplus funds; state Department of Transportation grants for the repaving of Grassy Lake Road phase one; and the $100,000 Burlington County Municipal Park Grant, half of which was dedicated to the local school district for an inclusive playground.
Other streams of revenue are expected, but Onorato said she is awaiting final confirmation on other grants for which the township has applied. She expects to amend the budget when grants are awarded, and use the exact costs to avoid affecting the total budget.
“I don’t want to budget revenue and not get it,” she stated.
The committee unanimously voted to send the budget to the county for final approval. The public hearing is April 7, 7:30 p.m., at 105 Willow Grove Road.
A copy of the municipal budget can be found by visiting Shamong.net.
“As I always say, we operate a nickel on the dollar and do our best with our municipal budget knowing what the school districts have to face with theirs coming up,” Mayor Michael DiCroce shared.
