ENGLISHTOWN – The Borough Council has adopted a $2.44 million budget to fund the operation of Englishtown this year.
The budget was adopted by council members following a public hearing on April 24.
The budget will be supported by the collection of $1.62 million in taxes from Englishtown’s residential and commercial property owners. Other revenue includes $300,000 from surplus funds (savings) and the receipt of $142,206 in state aid.
Englishtown’s 2018 budget totaled $2.42 million and was supported by the collection of $1.57 million in taxes from property owners. Other revenue included $300,000 from surplus funds and $142,206 in state aid.
Total spending is up $20,000 from 2018 to 2019 and the tax levy is up $50,000 from 2018 to 2019.
Englishtown’s 2019 budget includes the following appropriations: police department, $729,700 ($616,000 in salaries and wages, and $113,700 in other expenses); insurance, $199,200; payment to the Police and Firemen’s Retirement System of New Jersey, $151,500; garbage and trash removal, $157,000; buildings and grounds, $51,500 ($40,000 in other expenses and $11,500 in salaries and wages); road repair and maintenance, $47,000 ($31,000 in salaries and wages, and $16,000 in other expenses); and code enforcement, $22,100 ($21,100 in salaries and wages and $1,000 in other expenses).
In 2018, the municipal tax rate was 63.2 cents per $100 of assessed valuation. The owner of a home assessed at $200,000 paid $1,264 in municipal taxes. The owner of a home assessed at $330,000 paid $2,085. The owner of a home assessed at $450,000 paid $2,844.
In 2019, the municipal tax rate is projected to be 63 cents per $100 of assessed valuation. The owner of a home assessed at $200,000 will pay $1,260 in municipal taxes. The owner of a home assessed at $330,000 assessment will pay $2,079. The owner of a home assessed at $450,000 will pay $2,835.
Municipal taxes are one item on a property owner’s tax bill, which also includes Manalapan-Englishtown Regional School District taxes, Freehold Regional High School District taxes and Monmouth County taxes.
An individual pays more or less in taxes depending on the assessed value of his home and property, and the tax rate that is set by each taxing entity.
