Hardyston budget reduces spending, raises tax levy

HARDYSTON — Township Manager Marianne Smith revealed on Wednesday, April 27, that the township's 2016 budget will redeuce spending by 2.52 percent, but township residents will see a tax-levy increase of 0.7 percent.
The tax levy increase translates to an increase of $18.06 on the average home valued at $231,540.
“Hardyston has a long-term history of their tax rate increasing on an average rate of less than 2 percent per year for over 20 years and continuing,” Smith said. Smith also said that the total increase to the average home signifying the municipal portion of the property tax for the past 20 year period is $390, which is an average of $20.43 per year for 20 years.
A continued commitment to pay-as-you go capital investing in public works, road resurfacing and firematic capital investment is included in the budget. Smith said she does not anticipate any reduction to the staffing or programming the government provides its residents.
Smith informed Council that the remaining budget remains conservative and the township's fund balance continues to be healthy. She said Moody’s investor services also issued a positive bond rating to the Township of Aa2. Smith said the township's “outlook remains stable” and this financial review is positive in this economy.
Smith also told Mayor Leslie Hamilton and the council that the remainders of the taxes levied on real property are accredited to the local school, the regional high school and county government. Smith said the municipal government distributes the funds collected to the other taxing entities, collects all of the taxes and uses the percentage associated with their own budget.