An article in this week's Observer Tribune contains misleading informatiom pertaining to next year's municipal budget. While the article states "the township could legally increase taxes by 3.5 percent , 1 percent above the state maximum, because funds have been posted into a cap bank for the past two years", this is incorrect as the cap bank is associated with spending, not taxation. This 2.5 percent spending limit and cap bank were in place back in 2005 when the Committee soaked taxpayers with their infamous 11.1% tax hike.
For our sake, there is now a state mandated 4 percent limit on the growth of the tax levy. However, as noted in my posting below, Mayor Ken Short has set 2.5 percent as the target for next year's municipal tax increase.