During the Parsippany-Troy Hills Council meeting on Tuesday, March 19, Mayor James Barberio announced a 0% tax increase in the 2013 municipal budget.
The Township’s strong financial standing is the result of a 4.8% increase in revenues, a tax collection rate of 99.2%, maintenance of a healthy surplus for the Township’s Water and Sewer Utilities, increased employee contributions toward benefits in addition to the implementation of energy saving efforts that has saved the Township thousands of dollars. These are just a few examples of how the Township has been able to save taxpayer dollars for 2013 during these economic challenges we continue to face.
Although appropriations have been stabilized by savings, some increases include emergencies for Super Storm Sandy, retirement payout, debt service, police pension, and disposal of yard waste, which has nearly doubled. Mayor Barberio added, “One important appropriation this year was for the return of the Fall Festival. Requests for its return have been incredible and I believe that the Fall Festival rejuvenates community spirit and brings neighborhoods together.”
Also included in the budget is the hiring of five replacement police officers to maintain the level of staffing required to adequately protect our residents and businesses, replenishment of leaf bag supply as well as a 2% increase for white collar workers, representing ½ of the municipal workforce.
Parsippany-Troy Hills Township will continue to be financially prudent by looking at opportunities to reduce staff and other costs. The Mayor added, “I am personally committed to exploring economic development and redevelopment opportunities in order to increase the Township’s ratable base.” Because of the Township’s low tax rate, high level of services and well run municipal government, Parsippany-Troy Hills was named the #1 place to live in the State of New Jersey by Money Magazine. This award exemplifies Pride for all of us in Parsippany.