HOWELL – Residential and commercial property owners in Howell will pay a 2.85% increase, or a total of $809,264 more in municipal taxes to support the operation of the township in 2020 than they did in 2019.
During a Township Council meeting on March 3, Mayor Theresa Berger, Deputy Mayor Evelyn O’Donnell, Councilman John Bonevich and Councilman Thomas Russo voted to introduce a $53.54 million budget for 2020.
Councilwoman Pamela Richmond was absent from the meeting.
A public hearing on the budget will be held on April 7. Residents may ask questions about or comment on the budget at that time.
Within the $53.54 million that has been appropriated for 2020, officials said $24 million is accounted for in salaries; $24.49 million is accounted for in non-discretionary other expenses; and $4.95 million is accounted for in discretionary other expenses.
Howell’s 2020 budget will be supported by the collection of $29.2 million in taxes from Howell’s residential and commercial property owners. Municipal officials said $900,000 from the township’s surplus fund (savings) would be used as revenue in the budget.
Howell’s 2019 municipal budget totaled $52.3 million and was supported by the collection of $28.39 million in taxes from residential and commercial property owners. The budget used $1.2 million from the surplus fund as revenue.
In 2019, Howell’s municipal tax rate was 39.45 cents per $100 of assessed valuation. The owner of a home that was assessed at the township average of $357,214 paid about $1,409 in municipal taxes.
In 2020, the municipal tax rate is projected to remain 39.45 cents per $100 of assessed valuation. The average home in Howell is now assessed at $365,623 and the owner of that home will pay about $1,442 in municipal taxes.
If the assessed value of an individual’s home is the same in 2020 as it was in 2019, there will not be an increase in that individual’s municipal taxes.
Municipal taxes are one item on a property owner’s total tax bill. Property owners in Howell also pay Howell K-8 School District taxes, Freehold Regional High School District taxes, a fire district tax and Monmouth County taxes.
The amount of taxes an individual pays is based on the assessed value of his home and/or property and the tax rate that is set by each taxing entity.
