HANOVER TWP. – The Township Committee will hold a public hearing on its 2017 municipal budget at 8:30 p.m. on next Thursday, Feb. 23 that shows a .02 cent tax rate increase.
The tax rate in the new budget is $.435. Last year’s rate was $.433. The owner of a $100,000 home would pay $435 in municipal taxes. In 2016 the same homeowner would have paid $433 in municipal taxes.
The average home price in Hanover Township is $421,700.
The municipal tax does not include school or Morris County taxes.
The total current fund budget comes in at $26,410,410.50. Mayor Ronald Francioli said the municipal budget is up 0.37 percent from last year. Francioli estimated the average property owner in the township would pay an additional $15 in municipal taxes this year.
Notaby the township will allow a 1 percent per $100 assessed valuation on the dedicated open space trust fund tax rate.
The state allows a 2 percent rate but last year the township eliminated the rate altogether.
“We’ll need it this year,” Francioli said. The mayor noted the money will go toward the purchase of the Route 24 right of way along Hanover Avenue the state relinquished control of last year.
According to Mayor Ronald Francioli, officials from the state Department of Transportation (DOT) have agreed to sell the land to Hanover.
The township has applied for Morris County open space trust funds to help pay for the purchase.
A total of 15 roads are scheduled to be repaved in the coming year, including North Jefferson Road, Malapardis Road and portions of Whippany Road.
The Township Committee also expects to replace three police vehicles this year.
The Landmark Commission will see its budget increase by $25,000. “We are going to refurbish the Whippany Burying Yard this year and sites along the (Whippany) River near the Shell station,” Francioli said.
“Other departments got what they asked for, including the (Whippanong) Library,” he added.
Following two years of no municipal tax hikes, the Township Committee last year raised taxes slightly.
The 2016 municipal tax rate was 43.3 cents per $100 assessed valuation, up .2 cents from the previous year.
The owner of a property valued at $100,000 paid $433 in municipal taxes.
The township last year had also lost about $600 million from successful tax appeals.