Commissioners’ President Bruce Foltz signs the 2018 township budgets into law Thursday night
SANATOGA PA – A 2018 Lower Pottsgrove general fund budget of $6.32 million – which represents a 2.4-percent increase in expenses over the current year, and is accompanied by an annual real estate tax increase of about $31.25 on an average township residence – received final approval Thursday (Dec. 21, 2017) by the Board of Commissioners.
The tax hike of .25-mil to pay solely for future infrastructure improvements increases the general fund levy to 2.708 mils effective Monday (Jan. 1, 2018), according to a legal advertisement. One mil brings in about $600,000 in tax revenue, the township said, so the increase raises about $150,000 for its new capital reserve fund. The term mil is derived from a Latin word, millesimus, meaning “thousandth part.”
The board also added $337,443 to budget revenues from its savings reserve, known as the fund balance, to cover what otherwise would have been a deficit.
During the same meeting, a unanimous board vote indicated how it likely will spend its capital reserve during 2018 and in the foreseeable future: on a new township municipal building “campus.” Read about it here.
With the property tax increase, and other taxes for fire protection and debt service, the total township tax levy rises to 3.618 mils. That means owners of homes with an average estimated value of $125,000 can expect to pay a total Lower Pottsgrove annual tax bill of $452.25. Bills usually are mailed during March.
That sum does not include property taxes separately levied by Montgomery County, which usually are of smaller amounts, or by the Pottsgrove School District, which usually are significantly higher.
One commissioner, board Vice President Stephen Klotz, opposed the budget, saying he had earlier pledged to vote against all property tax increases.
Related (to the Lower Pottsgrove Board of Commissioners’ Dec. 21 meeting):
- Town 2018 Budget, Tax Hike Effective Monday
- Guess Where $381,080 Went During November?
- New Township Police Employee Fills Hybrid Role
- Township To Buy Sanatoga Land For ‘Campus’
- Family’s Memorial Gift Secures Officers’ Safety
- Next-Year Budget Approval On Township Agenda
Photo by The Post Publications