State aid helps reduce borough tax rate

Late in coming, but a welcome relief FRANKLIN — The borough will receive $200,000 in “extraordinary aid” from the state — an amount that will alleviate some of the burdens to borough taxpayers come November. That will translate into a tax reduction for each resident of about 8 cents per $100 of assessed value. When the budget was introduced in late March, the expected tax rate was about 26 cents per every $100 of assessed value. After some cuts, the tax rate dropped to 22.3 cents. Now, the rate will drop further. In addition, Franklin will use an extra $50,000, or part of what it received from the sale of borough property last year, to shave another 2 cents off the rate. In all, then, Franklin’s tax rate will drop to about 12 cents per every $100 of assessed value. That amounts to about $120 per every $100,000, borough officials said. Happy surprise “I think it was much more than we expected,” commented Mayor Paul Crowley, thanking Sen. Steve Oroho (R-24) and Assembly Reps. Allison McHose and Gary Chiusano for their help. “We were quite surprised and pleased by the amount that was granted because we expected less,” concurred borough administrator Richard R. Wolak. “But we are grateful for what we did get, as it will help reduce the burden on our municipal taxpayers.” Each summer, the borough must send out its estimated tax bills, not knowing what, if anything, will come in from Trenton. For that reason, taxpayers will realize their reductions when their second quarter payments are due, which is Nov. 1 — just in time for the coming holiday season. “It feels good,” said budget committee chairman Mark Zschack. “The $200,000 from the state will help a lot. And 12 cents is not (necessarily) the final number, either. The budget committee will be looking at possibly more cuts to reduce it even further.” Franklin has already been warned by the state that next year’s budget “is going to be more significantly impacted than it was this year,” Wolak said, due to lack of state funding, projected increases in medical premiums and employer pension contributions. What’s next Borough council was scheduled to hold a very brief morning meeting on Aug. 18, just to introduce its anticipated formal budget. Adoption is expected to follow on or by Sept. 8. At that time, borough residents can make comments.