Regardless of whether the board ends up voting for the increase in December, Lower Merion Township’s tax burden is only one part of a three-part story. At $9.5 percent, debt services are the second-highest budget category. The largest share of the budget at $30.5 million or 42 percent of all spending goes towards public safety. The township’s budget calls for $71.1 million in spending, up $1.9 million or 2.4 percent from last year’s budget. This other issue is that week’s vote to advertise the tax increase didn’t change the overall spending figures presented by the staff at the Nov. The township has also seen additional revenues coming from increases on permits, licensing, fees and other township services. This week’s vote to advertise the increased millage rate could still be amended before the mid-December final vote on the 2022 budget.Īlthough the township hasn’t increased the millage rate in a decade, property tax revenues have continued to increase due to the overall assessed property in Lower Merion.Īccording to Traub, Lower Merion’s total assessment of all property in the township has steadily increased over the past decade. It would still leave the township with a 23 percent fund balance.Īlthough the board voted for the increase, this is still not the final vote. Under the township staff’s proposed budget, a $6.5 million budget gap would be filled using its fund balance. If you look back, it’s actually been the longest consecutive period without an increase going back to World War II in Lower Merion Township.” “We are able to propose a budget without a real estate tax ,” said Eric Traub, township’s director of finance. ![]() The Board’s decision to add the tax increase was the opposite of what the staff recommended at the Lower Merion Finance Committee meeting on Nov.
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