Hopewell Township Committee adopted a nearly $37 million municipal budget Monday night that will slightly lower the Township tax rate for homeowners while increasing spending on public safety, infrastructure and municipal services.
Compared to last year, homeowners will pay about two cents less per $100 of assessed valuation in municipal taxes. For a home assessed at $475,000, Township officials said that translates to approximately $95 in annual savings.
The 2026 budget totals approximately $36.8 million, up about $6 million from 2025.
PILOT Revenue Helps Offset Costs
Township CFO and Treasurer Julie Troutman said the increase in spending was made possible through a combination of factors, including a nearly $3 million operating surplus carried over from last year, increased property valuations and significantly higher PILOT (Payment In Lieu Of Taxes) revenues tied to recent development projects.
According to the Township’s budget presentation, PILOT revenues are expected to total roughly $9 million this year, accounting for about 25% of Township revenue.
Township officials also noted that the municipal tax rate has now dropped below 2021 levels.
Debt, Public Safety and Staffing
Debt service remains the Township’s largest expense at approximately $8.5 million, accounting for roughly 22% of the budget.
Committee member Kevin Kuchinski said the Township’s long-term goal is to continue reducing debt obligations by paying off more debt annually than the Township takes on.
Other major expenditures include employee benefits at approximately $6.2 million and public safety costs totaling about $5 million.
Officials said public safety spending has steadily increased in recent years as the Township continues expanding police staffing and maintaining 24/7 coverage for a growing community. According to the Township presentation, the Police Department has grown from 29 officers in 2020 to 40 officers today.
The budget also includes capital investments in road improvements, public works equipment, park upgrades and municipal facilities.
Municipal Taxes Only Part of Overall Tax Bill
While residents often focus on municipal tax changes, Troutman noted that Township taxes make up only about 12% of the average property tax bill. School taxes account for the largest portion at approximately 58%, followed by county taxes at roughly 15%.
The Hopewell Valley Regional School District recently approved a budget approximately $4.9 million higher than last year, driven by rising health insurance costs, teacher salaries, and little state aid.
Gun Violence Awareness Proclamation
During Monday’s meeting, Mayor David Chait and members of the Township Committee also proclaimed June 5 National Gun Violence Awareness Day and encouraged residents to wear orange June 5-7 in recognition of victims and survivors of gun violence.
New Affordable Housing PILOT Approved
The Committee additionally approved a new PILOT agreement for The Cornerstone, a proposed 70-unit affordable housing development planned for the former Weidel property off Scotch Road.
Because the project will consist entirely of affordable housing units, officials said it qualifies for “bonus credits” under state affordable housing rules and serves as an important component of Hopewell Township’s affordable housing strategy.
Under the PILOT agreement, the Township is expected to receive approximately $55,000 annually from the development.
