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Cranbury Township does not anticipate increase in municipal taxes for 2021
Cranbury Township does not anticipate increase in municipal taxes for 2021
Cranbury Township officials are expecting the municipal tax rate to remain flat for the 2021 year.
Denise Marabello, township administrator and chief financial officer, said she left the tax rate flat, during a budget meeting with the Township Committee on Jan. 30.
After a discussion among the five Township Committee members a general consensus emerged that the majority were in agreement to keep the tax rate flat.
“In doing so, we will use $1.535 million in surplus to keep the rate flat. We do have a healthy surplus,” Marabello said. “We do have to keep in mind that I had to use $500,000 in surplus this year to balance the 2020 budget, because I was short in revenues due to COVID-19. Hotel tax, fees and permits, everything was down, so we did take a hit of $500,000.”