Hatboro Adopts Preliminary 2013 Budget

Hatboro taxpayers are getting an early Christmas present: No additional municipal taxes.

On Monday night the Hatboro Borough Council adopted the preliminary version of its $4.6 million spending plan, which holds the line on taxes for the coming year. 

The governing body is slated to adopt the final budget on Dec. 17.

In addition to maintaining the existing 7.878 millage rate, Councilman Vincent LaSorsa said he "rearranged" some of the borough's taxes. LaSorsa said the amounts for fire protection and debt service were increased, while the general fund rate was reduced. 

Based on a cash flow analysis through spring 2013, LaSorsa said it would not be necessary for the borough to take out a tax anticipation notice - or loan - to cover shortfalls prior to real estate taxes being paid. He said the borough is projected to have balances above the $1 million mark through April 2013.