Budget checks in at $24M
with 1.5-cent tax increase
MANALAPAN — The Township Committee’s 2002 municipal budget totaling $24,817,963 will raise the municipal tax rate 1.5 cents.
Members of the governing body introduced the budget on March 26. A public hearing on the budget will be held on April 24 at 7:30 p.m.
According to figures provided by Business Administrator James Devereaux, the municipal tax rate will rise from 44.5 cents to 46 cents per $100 of assessed valuation. The 1996 municipal tax rate was also 46 cents, the administrator noted.
With the increase in the municipal tax rate, the owner of a home assessed at $100,000 will pay about $460 in municipal taxes in 2002, an increase from $445 in 2001. The owner of a home assessed at $170,000 will pay about $782 in municipal taxes in 2002, an increase from $756 in 2001. The owner of a home assessed at $300,000 will pay about $1,380 in municipal taxes in 2002, an increase from $1,335 in 2001.
Municipal taxes are one portion of a property owner’s tax bill. The tax bill also includes Manalapan-Englishtown Region-al School District taxes, Freehold Regional High School District taxes, Monmouth County taxes, a fire district tax and several other assessments.
According to figures provided by Devereaux, the anticipated 2002 revenue will be obtained from several sources (2001 figures are in parenthesis for comparison): surplus, $4.7 million ($4.3 million); delinquent taxes, $1.2 million ($1.1 million); local tax and addition to local district school tax $10.5 million ($9.7 million); and other revenue, $8.3 million ($8.1 million).
Total revenues are expected to be $24,817,963 ($23,197,689).
Appropriations will include: salaries and wages, $9.1 million ($8.3 million); other operating expenses, $8.9 million ($8.3 million); deferred charges and other appropriations, $938,913 ($750,294); capital improvements, $100,000 ($100,000); debt service – included for school purposes, $2.9 million ($3.3 million); reserve for uncollected taxes, $2.7 million ($2.5 million).
Total general appropriations are expected to be $24,817,963 ($23,410,463).
Officials noted that the total number of full-time municipal employees will increase by three, from 154 to 157 employees, while the number of part-time employees will remain at 296.