>Yesterday August 26th, Middletown appeared in front of the Department of Community Affairs Local Finance Board, seeking a tax levy wavier which would allow the Township to exceed the State mandated 4% cap on local property taxes.
It has been well reported and is no secret that Middletown’s 2010 proposed budget seeks to increase the local tax burden by nearly 14% (13.87% to be exact), which would be 9.87% above the cap threshold.
How well did Middletown do in the efforts to convince the LFB to allow them to exceed the cap? It’s not exactly known just yet because the Township is keeping a tight lid on the results, not even giving advance word to some committee members, waiting instead for to inform them once they receive their advance “packet” today, for a tentatively scheduled Monday night in which the budget for 2010 will be announced and possibly adopted.
Whatever the outcome was between Middletown and the LFB, it is a good bet that the proposed 13.87% increase was not approved and that big budget cuts are looming.
As a result, don’t be surprised if Gerry Scharfenberger and those in the majority spin the outcome of this meeting by saying that they anticipated the results and had a budget ready in advance to present, making it seem as if the the meeting with the LFB was just a formality like last years budget. Last years budget contained a proposed 12% increase and was cut down 6.2% by the LFB for a increase of some 5.8% to the municipal tax rate.
When more details become available I’ll pass them along, until now we need to wait until Monday night’s meeting to see what residents are in for when they open their 4th quarter tax bills.