Yaede Proposes 2017 Municipal Budget with No Tax Increase
Township taxes would not increase
in 2017 under Hamilton Mayor Kelly Yaede’s proposed budget, which was recently
presented to the Township Council for consideration.
Under Yaede’s plan that would keep
the Municipal Government portion of residents’ property tax bills flat,
Hamilton plans to continue to invest in infrastructure needs by funding 24 road
repaving projects and over $1.2 million of needed park system improvements.
Additionally, thanks to required
employee contributions to health care costs, Township health insurance costs
have been reduced by $2.7 million.
“Our efforts to keep taxes as low
as possible are continuous, because we always want to allow our hardworking
residents keep more their hard-earned money.
I am very proud that we were able to keep township taxes flat in this
year’s budget,” says Mayor Yaede.
Paying Down Debt
Through a fiscally austere budget,
Yaede’s plan will hold the line on spending to an increase of just one percent
(or $1.1 million total) – only half the amount allowed under State Law. However, the proposed budget will fund a
projected increase of over $1.8 million for funding debt service costs, which
are the payments on past infrastructure projects (such as past road repair
projects), similar to mortgage payments on a home. Additionally, the proposed budget will fund
increasing solid waste and utility costs, without the need to increase taxes.
Overall, Yaede’s proposed budget
will keep Hamilton’s overall debt at a relatively low rate as the Municipal
Government’s debt is over 61 percent below the total amount that State
Law allows for the community.
“By keeping our community’s overall
debt low, we are illustrating our continued commitment to fiscal responsibility
that will benefit our future generations of Hamiltonians, while still investing
in needed infrastructure projects that are critical to our township’s
tomorrow,” says Mayor Yaede.
The growth in Hamilton’s local
economy continues to pay dividends and has helped keep township taxes
flat. Total property valuations have
grown by almost $45 million thanks in large part to new construction, while the
Township’s Inspections Office has seen increasing revenues to fund its ongoing
enforcement of the State Uniform Construction Code (inspections of new
commercial business construction projects).