Tax increase approved
2019 budget calls for 4.48 percent tax hike; rising pension obligations continue to increase
UPPER MORELAND >> The average township homeowner will pay an additional $30 in real estate taxes as part of the approved 2019 municipal budget.
The operating budget for next year totals $22.4 million and calls for an in increase in mills from 5.033 to 5.269 – a 4.48 percent rise. One mill equates to $1 per $1,000 of assessed property valuation.
A resident with a home assessed at the township average of $127,740 will pay $30 more on the tax bill.
Township officials said the increased mills will generate an additional $347,845 in revenue for Upper Moreland in 2019.
Like other neighboring municipalities, Upper Moreland has seen rising nondiscretionary costs, particularly those tied to pension obligations, which has prompted the need for additional tax revenue.
Officials said funding requirements for its three pension plans must increase by $491,000. In addition, costs related to medical, life and social security insurance will rise by $243,858. Total employee benefits expenditures show an increase from $6,164,043 in the estimated 2018 total to $6,832,542 in the approved 2019 budget.
The budget also shows that funding for the Upper Moreland Free Public Library has been increased by $39,796.
While the overall budget itself is 3.6 percent more than the 2018 plan, the township notes in its public budget summary that expenditures are “essentially unchanged,” increasing $28,000 from 2018’s expenditures total.
The board of commissioners held its final budget vote Dec. 3.