Mayor Recognizes Pandemic Challenges and Takes Action
MONROE TOWNSHIP, N.J. – May 10, 2021 – Monroe Township Mayor Stephen Dalina and Township Council have introduced a 2021 municipal budget that included a modest tax decrease. The proposed budget reduces the municipal tax rate from $.493 to $.490 per $100 assessed value and will be presented for public hearing at the June 2 Township Council meeting. As part of the new budget, water and sewer rates will remain the same.
“This has been an extraordinary and unprecedented year for everyone and the pandemic has caused most of us to have to tighten our belts a bit. The township budget is no different,” said Mayor Stephen Dalina. “As your new mayor, I have painstakingly evaluated our balance sheet and made the adjustments necessary to develop a responsible budget proposal that reflects the current economic reality.”
Among the factors that led to the modest tax decrease were a 23 percent reduction in the township’s statutory debt over the past five years, resulting in a $357,000 decline in the township’s debt service. With the help of a strong AA+ bond rating, the township is refinancing previous bonds this month and expects to save an additional $136,000 annually and $1.5 million over the duration of the loans. The township also aggressively pursued federal CARES ACT funding which helped keep tax rates down and provided a modest surplus increase.
