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3/10/2017 - Yaede Proposes 2017 Municipal Budget with No Tax Increase

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.

Economic Growth

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).