Politics & Government
Lower Merion’s 2012 Tax Rate, Budget Will Be Decided Next Month
A public hearing on the budget is scheduled for next week.
The Finance Committee of the Lower Merion Board of Commissioners on Wednesday night unanimously recommended that the full board authorize the township secretary adopt an ordinance which includes a 2012 real estate tax rate of 4.19 mills on each one dollar of assessed valuation—unchanged from 2011.
The ordinance would also include the annual budget for the 2012 fiscal year.
If approved, homeowners of the average assessed house would have a tax bill of just more than $1,500, said township Chief Financial Officer Dean Dortone said
Find out what's happening in Ardmore-Merion-Wynnewoodwith free, real-time updates from Patch.
The average assessment for a single-family, detached house in Lower Merion is $361,000. The annual real estate tax on the average home is $1,513, Dortone said.
The board will hold two public hearings about the 2012 proposed budget before the board votes on Dec. 21. The first public hearing will take place Nov. 16 as part of a Board of Commissioners meeting, and the second hearing is scheduled for Dec. 7.
Find out what's happening in Ardmore-Merion-Wynnewoodwith free, real-time updates from Patch.
The revenues estimated to be available to the township for fiscal year 2012 are $95.43 million. This includes revenue from real estate, business and transfer taxes, program revenues, bond sales, investment income, transfers from cash reserves and other sources.
Proposed total appropriations in the 2012 budget are also $95,43 million. They include:
- About $10 million for general government
- $22.7 million for public safety
- $3.1 million for building and planning
- $1.2 million for community development
- Nearly $11.9 million for public works
- $6.9 million for libraries and recreation
- $20.3 million for debt service
- $20.2 million for capital outlay
- $7.9 million for sanitary sewer
- $6.7 million for solid waste
The projected deficit for the 2012 budget is $1.4 million, Dortone said. In 2011, the projected deficit was $1.3 million but “right now the projected deficit for 2011 is $200,000,” Dortone said.
As part of the 2012 budget, solid waste fees will remain unchanged, Dortone said. He added, however, that it is possible the sanitary sewer fee may increase.
