Lower Providence’s Final 2013 Budget Adopted With No Tax Increase

Location of Lower Providence Township in Montg...

Location of Lower Providence Township in Montgomery County (Photo credit: Wikipedia)

LOWER PROVIDENCE — The final, $9,557,713 2013 budget was unanimously adopted Thursday night by the Board of Supervisors with no increase in the township’s 1.512 mill real estate tax rate.

For a homeowner with a home assessed at the township average of $167,022, the 1.512 mill tax rate translates into a township tax bill of $252.54.

The township will use the $730,023 fund balance from the 2012 budget to balance the 2013 budget, said Township Manager Richard Gestrich, when the preliminary budget was adopted in mid-November.  To give the township budget some operating capital while tax revenues are trickling into the township accounts during 2013, the board also approved transferring $425,000 from the unrestricted capital account.

“At the end of the budget year we will need the balance of the $425,000 to get through the end of the year,” Gestrich said.

Read more:   http://www.timesherald.com/article/20121221/NEWS01/121229902/lower-providence-s-final-2013-budget-adopted-with-no-tax-increase#full_story