MILLSTONE – The members of the Township Committee have adopted an $8.65 million budget to fund the operation of Millstone Township during 2022.
The budget, which was adopted on June 1, will be supported by the collection of $4.07 million in taxes from Millstone’s residential and commercial property owners. Other revenue for 2022 includes the appropriation of $1.3 million from the township’s surplus fund (savings) and the receipt of $841,753 in state aid.
Millstone Township’s 2021 budget totaled $7.72 million and was supported by the collection of $3.82 million in taxes from property owners. Other revenue included the appropriation of $929,000 from the surplus fund and the receipt of $841,753 in state aid.
From 2021 to 2022, appropriations have increased by $933,421 and the tax levy has increased by $249,085.
Selected appropriations in Millstone Township’s 2022 budget include the following line items: insurance, $865,500; road repairs and maintenance, $774,400; sanitation, $356,953; statutory expenditures, $319,816; utility expenses and bulk purchases, $290,000; interlocal municipal service agreements; $243,800; financial administration, $225,800; legal services, $160,000; buildings and grounds, $113,650; and municipal court, $105,900.
In 2021, the municipal tax rate was about 20.2 cents per $100 of assessed valuation. The average home in the township was assessed at $538,732 and the owner of that home paid about $1,088 in municipal taxes.
In 2022, the municipal tax rate is projected to increase to 21.3 cents per $100 of assessed valuation. The average home in the township is now assessed at $541,191 and the owner of that home will pay about $1,152 in municipal taxes.
Municipal taxes are one item on a property owner’s tax bill, which also includes Millstone Township K-8 School District taxes, Monmouth County taxes and a fire district tax.
An individual pays more or less in taxes based on the assessed value of his home and/or property, and the tax rate that is set by each taxing entity.
Millstone Township does not have its own police department. Coverage and service is provided by the New Jersey State Police at no cost to the township under longstanding guidelines. The township has a population of about 10,400 residents.
