« Somerville library trustees still demanding referendum on county merger | Main | Bridgeton groups look to raise $67,000 to preserve library »

September 10, 2010

Books and bucks in Montville

http://www.dailyrecord.com

September 10, 2010

Commentary

Many municipal libraries in New Jersey are funded through an anachronistic system in which they are guaranteed a steady stream of tax money. This is "one third of a mill" of the total assessed value of real estate. That amounts to $33 for every $100,000.

As assessments in many towns have boomed over the years, money for libraries has kept increasing. No one really saw anything wrong with any of that until recently. First came the recession, which depressed real estate values and fueled tax appeals. Then came Gov. Chris Christie who cut state aid to towns and has now imposed an annual 2 percent cap on property tax increases.

Through it all, money for some libraries has continued to pour in, especially in
municipalities where property assessments have not been adjusted to reflect the new reality. So, while municipal governments are struggling, the local libary is awash in dough — relatively speaking.

Locally, this has been an issue in East Hanover where a campaign is afoot to change the library's funding stream. Backers of the move say the library is "hoarding" a surplus that exceeds $1 million. There is also legislation in Trenton that would require libraries to give the municipality its excess surplus, which is defined as exceeding 20 percent of its audited expenditures for the previous year. That bill has passed the Legislature, but has not been signed by the governor.

Amid all this, Montville Township and its library are trying to work things out
themselves. The library board of trustees has secured state permission to give the
municipality $237,022 in library surplus for property tax relief. And the library is doing this with a flourish. What is called a "short ceremony of transfer" is scheduled for 7 p.m. Monday at the Pio Costa Auditorium.

Peter King Sr., the chairman of the board of trustees, says the third of a mill formula nets the library about $1.8 million a year and that giving money to the township is prudent. It's a shame more towns and their libraries can't try to solve this problem themselves.

Posted by tumulty at September 10, 2010 2:37 PM

Comments

Post a comment