East Windsor Township Adopts No Tax Increase 2021 Municipal Budget No Municipal Tax Rate Increase for Nine Consecutive Years
Published on May 06, 2021
EAST WINDSOR TOWNSHIP. Mayor Janice S. Mironov announced that, despite the unprecedented challenges of the pandemic, the adopted 2021 East Windsor Municipal Budget of $23,119,324 again contains NO TAX INCREASE. Thus, the East Windsor municipal tax rate component remains flat for nine consecutive years, at the rate of 43 cents per $100 of assessed valuation for the years 2013 through 2021. For the current average residential assessment of $259,299, the 2021 municipal tax is $1,122.
Mayor Mironov stated, “This no tax increase budget is a fiscally conservative budget document which well serves our community and retains all existing service levels. East Windsor has worked hard to keep our spending levels tight and continually seek out additional efficiencies, cooperative purchasing avenues and service sharing opportunities, and has maintained a very low debt level. The Township fiscal condition has been assisted by the continued attraction and expansion of new local businesses and a major refinancing initiative. This positive budget no tax increase outcome results from the pro-active efforts of the Township to carefully plan and to closely monitor expenditures and revenues throughout the year.”
Mayor Mironov noted, “There were numerous challenges in the 2021 budget due to significant gaps in budgeted anticipated municipal revenues for several categories including municipal court, hotel tax, construction fees as well as some unexpected expenses such as the state imposed pension payment increases to both New Jersey Retirement Systems.”
The Township 2021 tax base has increased by over $10 million, as East Windsor continues to be highly pro-active and successful in seeking to expand business opportunities and attract new commercial retables. Several business expansions and new stores and restaurant openings have taken place, including IHOP Restaurant, Sketchers Footwear in the East Windsor Village, Title Boxing Club in Town Center Plaza, One Mile Self Storage on One Mile Road, Trinity Rehab facility in the Windsor Center Shopping Center, in addition to the Novitium Pharma’s 17,760 square foot expansion.”
Mayor Mironov and Council Members were pro-active in seeking grant and funding opportunities. The Township continues to seek additional grant funding opportunities to support local projects and needs, as well as to underwrite the Township’s ongoing response to the COVID-19 pandemic, including vaccination and testing efforts. In addition to seeking funding opportunities, the Township also conducted permanent financing of all existing debt in 2020, resulting in a very low long term interest rate of 1.23% for 11 years, generating significant savings for the Township.
The 2021 East Windsor municipal tax levy amount is well below the available state cap levy amounts. It is noteworthy that while the Mayor and Council have introduced a no tax increase budget, the available tax levy allowance would have allowed a further increase of an additional 7.5 cents on the municipal tax rate.