Cherry Hill facing a third year of no hike in municipal tax

Posted: June 26, 2014

Cherry Hill is heading toward its third year in a row without a municipal-tax increase.

The township council on Monday night adopted a preliminary levy for fiscal 2015 with a zero increase. The township's tax levy is $43.9 million for fiscal 2015, the same as this fiscal year's.

Under state law, a municipality that operates under a state fiscal calendar is required to certify a preliminary levy to calculate the municipal portion of the third and fourth installments of property taxes.

The preliminary levy is used to finance municipal services for the first six months of the new fiscal year, which begins July 1.

"My administration is in the process of developing our full budget for the coming fiscal year, and I am proud to say that we anticipate no increase in municipal taxes for the third consecutive year," Mayor Chuck Cahn said in a statement. "Every day, my administration strives to deliver municipal services as effectively and efficiently as possible."

Added Cahn: "I look forward to working with Council in the coming weeks and months to craft a budget that maintains those services, while continuing our shared commitment to fiscal responsibility."

The mayor said he expected the fiscal 2015 budget to be introduced in August and be adopted in September.

Last September, the seven-member council adopted a $64.7 million budget for fiscal 2014, which also had no municipal-tax increase and came in about a half-million dollars less than the previous year's.

Last fall, Moody's cited Cherry Hill's "healthy financial position" in reaffirming its Aa2 positive credit rating. The agency said the business-friendly township benefited from a strong tax-collection rate.

sparmley@phillynews.com856-779-3928 @SuzParmley

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