Higher Ratables Mean Lower Town Taxes

Mayor Palmer (Photo by Jennifer Peacock)

MANCHESTER – What’s your favorite Starbucks drink? The cost of one is what you’ll probably save in municipal taxes this year.

The Manchester Township administration offered a brief introduction to their proposed 2019 budget. A full presentation and its adoption are slated for 6 p.m. June 10 at town hall, 1 Colonial Drive.

The $35.7 million budget is increasing from last year’s adopted $35.039 million budget. The local levy – the amount taxpayers are responsible for – is increasing $120,000 to $20.7 million.

“However, since last year, we’ve had $18 million in new ratables, which more than covers that additional local levy,” Mayor Kenneth Palmer said May 13. “So we’re not asking residents to pay more into that, so as a result, our municipal tax rate will go down two-hundredths of a percent. Not crazy money, but…it’s going in the right direction.”

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The average home, assessed at $161,100 this year, will save about $5.

Palmer anticipated the township’s surplus would be around $7 million this year, but had to make a change to that figure to $3.5 million.

“We got some funding in for the water project that we had to pay out, so we paid it out this year, and we’ll get it reimbursed from the state next year, so it will be a surplus benefit next year, not this year,” Palmer said.