UPPER FREEHOLD – The Township Committee has introduced a $5.66 million budget to fund the operation of Upper Freehold Township during 2019.
The budget was introduced by committee members on March 7. A public hearing on the budget will be held at 7 p.m. April 4 at the municipal building, 314 Route 539. The committee may adopt the budget that evening.
The $5.66 million budget, which can be amended prior to its final adoption, will be supported by the collection of $3.11 million in taxes from Upper Freehold’s residential and commercial property owners, the appropriation of $1.2 million from surplus funds (savings) and the receipt of $518,481 in state aid.
The budget includes the following appropriations: debt service, $1.74 million; general government, $1.05 million; reserve for uncollected taxes, $1 million; public safety, $467,164; insurance, $330,931; capital improvements, $290,000; public works, $245,955; deferred charges/statutory expenditures, $235,419; Uniform Construction Code, $188,955; and utility expenses and bulk purchases, $94,000.
Upper Freehold Township’s 2018 budget totaled $5.75 million and was supported by the collection of $2.96 million in taxes from property owners.
In 2018, the municipal tax rate was 23.7 cents per $100 of assessed valuation. The average home was assessed at $473,400 and the owner of that home paid $1,122 in municipal taxes.
In 2019, the municipal tax rate is projected to remain at 23.7 cents per $100 of assessed valuation. The owner of a home that is still assessed at $473,400 will continue to pay $1,122 in municipal taxes.
Municipal taxes are one component of a property owner’s tax bill, which also includes Monmouth County taxes and Upper Freehold Regional School District taxes. The amount a property owner pays in taxes is based on the assessed value of his property and the tax rate set by each taxing entity.