2019 Municipal Budget Approved w/No Tax Rate Increase

Published 05/29/2019

NO TAX RATE INCREASE IN 2019 CINNAMINSON MUNICIPAL BUDGET

The 2019 Municipal Budget adopted by Cinnaminson Township Committee includes NO TAX RATE INCREASE. Although the Township is statutorily responsible for collecting all taxes, the municipal component of the local property tax bill remains the same at $0.616 (61.6 cents) per $100 of assessed valuation. This means that for the 2019 average residence assessment of $234,100.00, the 2019 municipal tax is $1,442.05. The municipal component is 18% of the total local property tax bill. The fiscally conservative budget document retains all existing services and no employee reductions. The NO TAX RATE INCREASE municipal budget is a result of the Township’s commitment to continually seek out additional efficiencies, cooperative purchasing avenues, shared services, a low debt level, and closely monitoring expenditures and revenues throughout the year.