By VASHTI HARRIS
Staff Writer
MIDDLETOWN The Township Committee approved this year’s municipal budget, which will slightly reduce taxes for homeowners.
This year, the municipal tax levy will decrease by $161,459, creating a slight tax decrease for the average homeowner. The Township Committee unanimously approved the decrease as part of the 2017 municipal budget on May 1 during the committee’s monthly meeting, according to a prepared statement for the township.
A slide presentation explaining this year’s municipal budget showed how the decrease in the municipal tax levy will lower the average homeowner’s monthly and annual property tax payments.
For the average homeowner in 2016, the annual property tax payment was $1,847.69. This year, the anticipated annual property tax payment for the average homeowner is $1,838.29.
In 2016, the average homeowner’s monthly property tax payment was $153.97. With the municipal tax levy decrease this year the anticipated monthly property tax payment for the average homeowner is $153.19.
The municipal tax levy is the amount that needs to be raised by taxation to continue providing more than 21 municipal services. These include police, fire, snow removal, leaf and brush collection, road repairs and maintenance, animal control, and all other township services, while supporting more than 40 parks and recreation facilities, according to the prepared statement.
“We’ve taken a fine tooth comb to this budget in order to develop a spending plan that reduces costs with-out sacrificing core essential services,” Mayor Gerry Scharfenberger, in a prepared statement said. “We consistently seek ways to further minimize costs, maximize revenues and stretch a dollar.”
The amount of taxes to be collected from each property is dependent upon the tax rate and a property’s assessed value. Assessed value is the value assigned by the municipality for the purpose of levying taxes, according to a press release.
Historically for every dollar paid in property taxes, approximately 63 percent is sent to the school district, 13 percent is sent to Monmouth County, and 21 percent stays in Middletown to cover the cost of municipal operations. Another two percent goes to the municipal library and one percent to the open space fund.
For more information on the 2017 municipal budget visit www. middletownnj.org/budget.
Contact Vashti Harris at [email protected].