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Hillsborough Township Committee Adopts 2020 Budget Municipal Taxes Reduced for the 3rd Consecutive Year Amid COVID-19 Pandemic

Hillsborough Township 379 South  Branch Road

Hillsborough, NJ 08844

Phone (908) 369-4313

Fax (908) 369-6034

News Release

Contact:  Mayor Doug Tomson FOR IMMEDIATE RELEASE

Phone:    908-369-3535 July 21, 2020



Hillsborough Township Committee Adopts 2020 Budget 

Municipal Taxes Reduced for the 3rd Consecutive Year Amid COVID-19 Pandemic


Hillsborough Township Committee adopted the 2020 municipal budget at last Tuesday’s Township Committee meeting, with a tax reduction for the 3rd consecutive year.


“As indicated during the introduction, this budget is a result of our team’s continued fiscal responsibility regarding municipal operations, despite continued operations amid the COVID-19 pandemic,” reminded Mayor Doug Tomson.  


The 2020 Municipal Finance team was composed of the Mayor Doug Tomson, Committeewoman Gloria McCauley, Administrator Anthony Ferrera and CFO Nancy Costa.


As a result of extensive Business Continuity Planning over the years, Municipal Services were operational despite the building being closed for a period as a result of the COVID-19 Pandemic.  

 

The Township saw an increase in the total rateable value for 2020 of $188 million, a 3.06% rateable increase, which therefore increases the tax base over which the tax levy is distributed.  


The municipal tax rate is reduced for the third year in a row.  While the School Board and County portions of the tax rate have increased from 2015, the Township’s tax rate has decreased by 1.4 cents since 2015.


As has been the practice of the Township, allowable exceptions over the 2% levy cap which for the 2020 budget could have added $26,213 to the tax levy, were not utilized in order to reduce the tax impact on Township residents.  Available exceptions include pension obligation increases, deferred charges to future taxation and increase in debt service and capital improvement appropriations. Since the inception of the levy CAP in 2011, the Township had $2,147,361 in available  exceptions which could have been used to increase taxes above the 2% CAP.  


The municipal budget represents just over approximately 13% of the total tax bill in Hillsborough Township. 


“This Township Committee remains committed to fiscal responsibility; working efficiently while providing our taxpayers the same level of service excellence they expect and deserve,” stated Mayor Doug Tomson, Liaison to the Finance Committee. 

 

The Township continues the “Pay As You Go Program” for routine capital purchases and further makes payments on debt service greater than what is required, therefore further reducing the debt of the Township.  This practice affords the Township to maintain its AA+ bond rating. The budget includes monies allocated for the Capital Improvement Fund of $600,000 which will help to fund future Capital Ordinances.

 

 

 

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