UPPER FREEHOLD – The Township Committee has adopted a $5.66 million budget to fund the operation of Upper Freehold Township during 2019.
The budget was adopted by committee members on April 4.
The $5.66 million budget 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 2019 budget includes the following appropriations: debt service, $1.74 million; general government, $1.1 million; reserve for uncollected taxes, $1 million; insurance, $367,525; capital improvements, $290,000; public works, $245,955; deferred charges/statutory expenditures, $235,419; fire, $197,169 ($186,669 is salaries and wages); utility expenses and bulk purchases, $94,000; aid to the Hope Fire Company, $84,000; legal services and costs, $62,000; contribution to the Allentown First Aid Squad, $61,000; and landfill/solid waste disposal costs, $22,000.
Upper Freehold Township’s 2018 adopted budget totaled $5.5 million and was supported by the collection of $2.96 million in taxes from property owners. Total appropriations are up $160,000 from 2018 to 2019, and the tax levy is up $150,000 from 2018 to 2019.
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 an individual pays in taxes is based on the assessed value of his home and/or property and the tax rate that is set by each taxing entity.
