The Hopewell Borough Council has adopted a $3.1 million municipal budget for 2018, an increase in spending of less than $100,000 from the 2017 budget.
The budget was adopted by council members following a public hearing on May 3 and officials were satisfied with the spending plan.
Council President Sky Morehouse said it is “just doing business as cheaply as possible. We are doing business as cheaply as we can muster.”
Mayor Paul Anzano said there are no major initiatives reflected in the 2018 budget. The spending plan does not reflect the addition of services, nor does it reflect a reduction in municipal services, he said.
The municipal tax rate will increase by 3 cents, from 56 cents to 59 cents per $100 of assessed valuation. The owner of a home assessed at the borough average of $404,552 will pay $2,387 in municipal taxes in 2018, an increase of $122 from the 2017 municipal tax of $2,265.
Municipalities rely on several sources of revenue to support the budget, from the use of surplus funds (savings) to revenues such as licenses, fees and permits, state aid, and municipal court fines and costs. The remainder of the revenue that is needed to balance the budget is made up of a tax levy collected from residential and commercial property owners.
The local tax levy for 2018 will be $1.8 million (approximately 59 percent of all revenue). Liquor licenses and other licenses will generate $7,300. Fees and permits will generate $8,200 and the municipal court is expected to produce $25,000 in revenue. Officials will use $271,000 from surplus as revenue and receive $170,313 in state aid. Renting out the former railroad station building will generate $25,000, according to the budget.
