The portion of residents property taxes attributed to the cost of running the Hamilton Township will not increase in 2017. At the May 24th Council meeting members of the Hamilton Council unanimously voted to pass the proposed budget that keeps municipal taxes flat.
In addition to keeping the Municipal Government portion of residents’ property tax bills flat, Hamilton’s 2017 budget will fund 24 road repaving projects and needed park system improvements, while also keeping the community’s debt at a relatively low rate (as the Municipal Government’s debt is over 61 percent below the total amount that State Law allows for the community).
“Our Council has been committed to keeping Township taxes flat during the budget process, as we worked along with Mayor Yaede to ensure a fiscally responsible budget that invests in needed road repairs while keeping debt at a relatively low rate,” says Council President Dennis Pone.
“As a mother, I care deeply about how the decisions we make on Council will impact our community’s children and future generations,” explains Councilwoman Dina Thornton. “So it was important to me that we held the line on Township taxes, while still protecting resources that will preserve our parks and maintain our community’s high quality of life.”
Hamilton’s strong local economy, which was recently noted by Standard & Poor’s Rating Service when it reaffirmed Hamilton’s credit rating and its stable outlook for the town’s outstanding debt, also paid dividends for the community’s 2017 budget. Property valuations grown by almost $45 million thanks in large part to new construction, while the Township’s Inspections Office has seen increasing revenues.
For more information, See “info on the Proposed 2017 Municipal Budget”: http://www.hamiltonnj.com/news/?FeedID=1715