The Penn Forest Township Board of Supervisors announced plans to adopt a budget for 2004 that will not assess a real estate tax on property owners in the township.

This is the second time there will be no real estate taxes in the township, the first time having taken place in 2001.

The township supervisors said they will depend on its surplus to cover next year’s expenses. They attributed the surplus to prudent fiscal management and careful spending.

In 2002 and 2003, Penn Forest residents paid a real estate levy of one-half of a mill on properties.