Credit: David Hunt/NewHopeFreePress.com
New Hope Borough’s 2024 budget was adopted by council at last week’s council meeting, and the spending plan includes no tax increase.
The 2024 tax millage rate will remain the same as it was in 2023, which is 13.77, according to Borough Manager Peter Gray.
The borough’s budget is $5.8 million, only a slight increase over the 2023 budget.
The bulk of the borough’s revenue comes from real estate taxes and earned income tax (EIT).
One aspect of the budget that stands out is that parking meters are expected to earn slightly more than $1.3 million in revenue for the borough, according to the spending plan.
The budget includes investment in the yearly road improvement program, which will undertake several projects.
The borough’s $1.3 million capital plan includes software for the police department, upgrades to Borough Hall, updates to the visitor’s center, stormwater improvements, and other projects, some funded by grants.
The borough has not raised taxes in nine years.
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