Lower Township Town Council approved a $34.68 million budget this week. According to the Press Enterprise, spending is up more than $750,000 compared to last year, but an increase to the total assessed value of the community of more than $10.9 million allowed the tax rate to remain stable. In fact, budget documents show it dropping by a tenth of a percent compared to last year. The budget includes a township tax rate of 61.79 cents for each $100 of assessed property value. That works out to $3,089.50 in local taxes on a house assessed at $500,000, a figure that does not include county or school taxes.