GALLOWAY TOWNSHIP — When residents receive their tax bill this week, they will notice they will pay less in taxes this year for the first time in 30 years.
In April, the township passed its budget, which included a tax-rate reduction for the fifth year in a row, but it did not know what the Atlantic County, Greater Egg Harbor Regional High School District or Galloway public school tax rates would be.
“While Galloway’s portion of the rate has come down over the past few years, this was offset by increases in county and school taxes,” Councilwoman Mary Crawford said in a statement. “This year, the county and regional school district also lowered rates.”
The end result is a 4.3-cent reduction per $100 of assessed value.
GALLOWAY TOWNSHIP — Homeowners will see a tax-rate reduction for the fifth year in a row und…
The Greater Egg Harbor Regional district divides its tax levy among Galloway Township, Mullica Township, Hamilton Township and Egg Harbor City, said Galloway Mayor Anthony J. Coppola Jr.
Greater Egg municipalities are impacted in different ways because the school district bases its taxes on equalized value and not accessed value, Coppola said. Galloway is near 100% equalized value, so the school tax rate has less of an impact on Galloway homeowners compared to the other municipalities, he said.
Coppola, the budget committee chairman, said the township’s economic development initiatives brought in new businesses and jobs and added to the tax base.
“We learned some valuable lessons from the flawed PILOT process in Atlantic City. We created a plan that was built to benefit the residents in the form of lower taxes, not just businesses,” Coppola said in a statement.