Newtown Township Supervisors approve $12.34M spending plan for 2015; officials working to attract new companies to …

By D.E. Schlatter 21st Century Media

NEWTOWN TOWNSHIP >> The board of supervisors approved its final $12.34-million general fund operating budget for the fiscal year beginning Jan. 1.

The package calls for holding the line on taxes even though the loss of revenue from the planned closing of the Lockheed Martin facility will hit the township the hardest in the coming year.

On Dec. 17, the supervisors voted 3-2 along party lines, with Republicans Mike Gallagher, Ryan Gallagher and Kyle Davis voting in favor of the budget and Democrats Phil Calabro and Jennifer Dix casting dissenting votes.

Unlike many other neighboring municipalities, Newtown does not have a traditional real estate property tax.

However, there is a 2.5 mill tax imposed on property owners which is dedicated to the townships fire protection fund and in paying off debt service on borrowed money.

For 2015, that millage rate will remain unchanged.

Were doing everything to keep the millage rate the same, said township manager Kurt Ferguson, who labeled the budget conservative.

Most of the township's revenues are derived from the one-percent Earned Income Tax (EIT), which is expected to account for almost 60 percent of all general fund revenues in 2015.

However the planned Lockheed Martin closing is expected to adversely affect the townships revenue stream.

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Newtown Township Supervisors approve $12.34M spending plan for 2015; officials working to attract new companies to ...