JACKSON – The members of the Jackson Township Council have introduced a $49.37 million budget that will fund the operation of the municipality during 2021.
During a meeting on April 13, Township Council President Andrew Kern, Vice President Martin Flemming, Councilman Alex Sauickie, Councilman Stephen Chisholm and Councilman Nino Borrelli voted “yes” on a motion to introduce the budget.
The council set May 11 as the date for the public hearing and adoption of the budget. Residents may ask questions about the spending plan during the public hearing.
In 2020, council members adopted a $47.54 million budget that was supported in part by the collection of $33.6 million in taxes from Jackson’s residential and commercial property owners. Officials used $4.8 million from the township’s surplus fund (savings) as revenue in the budget.
The 2020 municipal tax rate was 49.2 cents per $100 of assessed valuation. The average home was assessed at $328,520 and the owner of that home paid about $1,616 in municipal taxes (0.492 x 3,285).
In 2021, the council members have introduced a $49.37 million budget that will be supported in part by the collection of $34.26 million in taxes from Jackson’s residential and commercial property owners. Officials plan to use $5.95 million from the township’s surplus fund as revenue in the budget.
The 2021 municipal tax rate is projected to be 50.1 cents per $100 of assessed valuation. The average home is now assessed at $329,181 and the owner of that home will pay about $1,649 in municipal taxes (0.501 x 3,291).
From 2020 to 2021, total appropriations are up $1.83 million and the local tax levy is up $660,000.
The municipal budget funds all the operations of Jackson, including the Jackson Police Department, the Department of Public Works, the administration of government, employee health benefits, insurance, payments to employee pension funds, the repayment of debt and more.
Municipal taxes are one item on a property owner’s tax bill, which also includes Jackson School District taxes and Ocean County taxes.
The total amount of property taxes an individual pays is determined by the assessed value of his home and/or property and the tax rate that is set by each taxing entity.