The Township Committee proposed a $27.87 million budget that will raise annual municipal taxes by about $49 on homes assessed at $350,000, according to nj.com.
Although the tax raise remains under the state mandated 2 percent gross property tax levy cap, a decrease in the value of ratable property in Hillsborough will cause the tax rate to rise, according to nj.com.
The township has, however, seen their bond rating jump from a AA- to AA+, according to nj.com.
Read more here http://www.app.com/article/CN/20140505/NJNEWS10/305050045/Hillsborough-taxes-bond-rating-rising
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