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Prince Township proposes a 2% tax levy for infrastructure, avoids user fees, and includes museum repairs amid manageable debt.
Prince Township unveiled a new infrastructure plan prioritizing risk-based capital replacements over asset age, proposing a 2.0% annual tax levy to raise $325,000 over ten years, though officials advised against it.
A 5% user fee increase was projected to bring in $35,000 but was also discouraged.
Debt remains viable, with current repayments under the 25% revenue cap, and two existing loans totaling $1.11 million at 4.83% interest for fire equipment and a bridge.
Council members praised the report’s clarity and included repairs for the Prince Township Museum, previously excluded.
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Prince Township propone un impuesto del 2% para la infraestructura, evita las tarifas de los usuarios, e incluye reparaciones de museos en medio de una deuda manejable.