Unabated overdevelopment, and the municipal services required to meet this explosive growth, coupled with unrelenting tax abatements continue to take a toll on Lakewood Township's taxes.

For the second year in a row, Township officials are working hard during virtual meetings planning yet another $3 million tax increase, FAA News has learned.

The only difference from last year to this year is that this year Committeeman Mike D'Elia has been too unwell to participate in this world goings on, and Deputy Mayor Menashe Miller has been deployed at least for a portion of the time, and appearing to campaign to fix our County roads for another short portion of the year.

Despite these shortcomings, the rest of the Committee has somehow still been able to pull through and come up with ways to slip another grand $3,168,666.27 tax increase in the upcoming budget!

The Local Government Cap Law provides that in the preparation of its annual budget, a municipality shall limit any increase in said budget up to 2.5% - unless authorized by ordinance to increase it to 3.5% over the previous year’s final appropriations, subject to certain exceptions.

In this case, the 2.5% increase would amount to only $2,263,333.05.

The Township Committee has decided that "in the interest of promoting the health, safety and welfare of the citizens," they "find it advisable and necessary to increase their CY 2023 budget by up to 3.5% over the previous year’s final appropriations," amounting to a tax increase of $3,168,666.27.

This tax increase is in addition to the increases of the Board of Education and Board of Fire Commissioners.

As previously reported here on FAA News, last year, after granting developers $4 million in tax cuts, Township officials increased taxes for the rest of us $3 million. The Township has not yet revealed how much in tax cuts they provided to developers this year.

As previously reported here on FAA News, over 20% of parcels in the Township are tax exempt.

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1 comment:

Tracht! said...

How about taxing cedarbridge development properties, it will more then cover any shortfall.......just one idea