HAZLET – The members of the Township Committee in Hazlet have introduced a $24.51 million budget to fund the operation of the municipality this year.
The budget was introduced by committee members on June 28. Mayor Michael Sachs, Committeeman Robert Preston, Committeeman Michael Glackin and Committeeman James McKay voted “yes” on a motion to introduce the budget. Committeeman Peter Terranova was absent.
A public hearing on the budget has been scheduled for Aug. 2. The governing body may adopt the budget that evening.
The proposed budget will be supported by the collection of $16.63 million in taxes from Hazlet’s residential and commercial property owners. Other revenue in the budget includes the appropriation of $2.57 million from the township’s surplus fund (savings) and the receipt of $1.88 million in state aid.
Hazlet’s 2021 budget totaled $21.5 million and was supported by the collection of $15.2 million in taxes, the appropriation of $1.24 million from the surplus fund and the receipt of $1.88 million in state aid.
From 2021 to 2022, appropriations have increased by $3.03 million and the tax levy has increased by $1.42 million.
In 2021, the municipal tax rate was 56.3 cents per $100 of assessed valuation. On a home assessed at $350,000 the municipal taxes were $1,971.
In 2022, the municipal tax rate is projected to decrease to 56.26 cents per $100 of assessed valuation. On a home that is still assessed at $350,000 the municipal tax will be $1,969. On a home that is assessed at $375,000 the municipal tax will be $2,110. On a home that is assessed at $400,000 the municipal tax will be $2,250.
Individuals pay more or less in taxes depending on the assessed value of their home and/or property and the annual tax rate that is set by each taxing entity (i.e., municipality, county, school district).
Municipal taxes are one item on a Hazlet property owner’s tax bill, which also includes Hazlet Township Public School District taxes and Monmouth County taxes.
Selected appropriations in Hazlet’s 2022 municipal budget include the following line items: police salaries and wages, $4.3 million; police salaries and wages (paid by American Rescue Plan), $1.03 million; employee group health insurance, $2.7 million; workers compensation insurance, $500,000; capital improvement fund, $1.47 million; payment of bond principal, $1.02 million; interest on bonds, $756,500; Monmouth County dispatcher program, $226,813; payment to Police and Firemen’s Retirement System of New Jersey, $1.44 million; payment to Social Security System, $650,000; payment to Public Employees’ Retirement System, $420,148; streets and road maintenance, salaries and wages, $688,500; and streets and road maintenance, other expenses, $412,250.
Hazlet has 155 municipal employees in 2022, which is an increase from 103 employees in 2021, according to information provided by municipal officials.