Hillsborough Township Introduces 2022 Budget

Hillsborough Township introduced the 2022 municipal budget at Tuesday’s Township Committee meeting, with an anticipated tax reduction for the 5th consecutive year.

“This budget is a result of our team’s continued fiscal responsibility regarding municipal operations,” commented Mayor Shawn Lipani.  The Finance team is composed of  Mayor Shawn Lipani, Committeeman Frank DelCore, Administrator Anthony Ferrera and CFO Nancy Costa.

While the Township felt the devastating effects of Hurricane Ida in 2021, resulting in a Special Emergency Appropriation of $300,000 to be paid back in the subsequent 5 budgets, the relatively light winter storms allowed for a reduction in the snow line item of $190,000. 

The Township saw an increase in the total rateable value for 2022 of $552 million, an 8.3% rateable increase, which therefore increases the tax base over which the tax levy is distributed and as a result the municipal tax rate continues to be reduced.  

The 2022 anticipated municipal tax rate will be $0.29 per $100 in assessed value, which is $0.02 less than 2021.  Since 2017, the municipal tax rate has been reduced by $0.04 per $100 of assessed value.

“It is important to note that this budget represents just over 13% of your total tax bill,” commented Mayor Shawn Lipani.  

As has been the practice of the Township, allowable exceptions over the 2% levy cap which for the 2022 budget could have added $332,685.39 to the tax levy, were not utilized in order to reduce the tax impact on the taxpayer of Hillsborough Township.  Available exceptions include pension obligation increases, deferred charges to future taxation and increase in debt service and special emergency appropriations from Hurricane Ida. Since the inception of the levy CAP in 2011, the Township had $39 million in available exceptions which could have been used to increase taxes above the 2% CAP.  

If the Township were to take advantage of the allowable exceptions and exceed the 2% levy cap, the taxpayers would have incurred additional taxes. For the 12th consecutive year, the municipal budget comes in below the 2% tax levy cap while receiving no additional State aid. 

“This budget is a direct result of the Township Committee’s commitment to continued fiscal responsibility; working efficiently while providing our taxpayers the same level of service excellence they expect and deserve,” stated Committeeman DelCore, Liaison to the Finance Committee.  

“It has been the position of this Township Committee to take a fiscally prudent stand when dealing with the Township’s finances.  In addition, cost savings have been a part of the Municipal employees’ annual goals and objectives.  Their efforts are additionally realized in the results of this budget,” concluded Mayor Lipani.

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 $700,000 which will help to fund future Capital Ordinances. 

The public hearing and adoption of the 2022 Municipal Budget is scheduled for July 26, 2022.

The introduced budget is available for review on the Towsnship website. 

2022 Introduced Budget