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[quote="Guest"][quote="Guest"][quote="Guest"]CRANBURY — The Board of Education will hold a public meeting in January to discuss a possible $500,000 revenue shortfall in the district.

The budget shrank 8 percent last year with a 4 percent state-imposed cap, and the board predicts it will shrink the same amount again this year with the new state-imposed cap of 2 percent.

http://www.centraljersey.com/articles/2010/11/19/cranbury_press/news/doc4ce5752edfeb4527996302.txt[/quote]

Does anyone know specifics about why the budget is projected to shrink? Is this a loss of state aid? Loss of ratables? Decreased assessments? Something else?

Thanks for any info.[/quote]

The town has a lot of vacant warehouse space and the continued decline in property values means that there is a lower value of property in the town.  So as the property value declines the tax rate has to increase to keep level spending.

When state aid is cut (all for the school) a lot for the town and more cuts coming that means it falls on the back of the tax payer locally to make up the difference just to keep the same services going.

It's a trick for Trenton.  Cut state aid to funnel money to the State budget so  the state politicians look good, then blame the local towns for the increase in property taxes and say we in Trenton are trying to help.  Towns like Cranbury must be inefficient and therefore need to consolidate.[/quote]

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