Property revaluation's impact on spending plan will be key

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Property revaluation's impact on spending plan will be key

Township officials say the municipal tax rate won't increase this year, and may even go down. However, they won't know for sure until they find out the results of a townshipwide property revaluation next week.

The committee will hold an open meeting at 8 a.m. Jan. 27 in Town Hall to discuss the 2007 budget. By then, Township Committee members should know the results of the revaluation, said Committeeman Wayne Wittman.

"We should have the rate set then and then we'll know what we're dealing with," he said. "Right now we're kind of shooting in the breeze."

The revaluation, which began in March after the township paid $158,000 to Appraisal Systems Inc., of Mendham, is the first property revaluation done in Cranbury since 1986. The company finished inspections in November after visiting 1,156 houses, 89 vacant lots, 149 farm properties, 118 commercial properties and 77 exempt properties. The revaluation will bridge the gap between property values old assessments and current market values.

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