No Tax Hike In Proposed 2023 Lower Merion Township Budget

LOWER MERION TOWNSHIP, PA — The Lower Merion Township Board of Commissioners are poised to yet again pass a budget that will not increase residents real estate taxes.

Should the budget pass as it stands, it would mark 12 years of no millage rate increases to property owners in the township.

The millage rate will stand at 4.19 mills if the budgets goes forward as proposed.

According to the township, if the budget passed it will be the longest consecutive period

without a tax increase since World War II.

With the proposed millage rate, a single-family residential detached home in Lower Merion Township assessed at $350,600 will pay $1,469 in real estate taxes in 2023.

While the 2023 budget does not have an increase, officials said a projected expanding budget gap will prove difficult in adopting further budgets without real estate tax increases.

The gap could lead to increased millage rates or "significantly reducing the cost and/or scope of Township services"

2023's budget has a revenue of $70,400,000, which is an 8.2 percent increase from 2022, and $75,580,720 in expenditures, a 5.5 percent increase from 2022.

The 2023 Budget expenditures exceed revenue by $5,180,720, requiring a planned budgeted drawdown of fund balance to balance operating revenue with expenditures.

See the full 2023 proposed budget online here.

The first public presentation on the proposed budget will be held on Wednesday.

The proposed budget will have its first public hearing on Wednesday, Nov. 16.

A second proposed public hearing will take place on Wednesday, Dec. 7.

Finally, budget adoption is scheduled for Wednesday, Dec. 21.