ENGLISHTOWN – The Borough Council has adopted a $2.4 million budget to fund the operation of Englishtown this year. The budget was adopted by council members following a public hearing on April 25.
The budget will be supported by the collection of $1.6 million in taxes from Englishtown’s residential and commercial property owners. Other revenue includes $300,000 from surplus funds (savings) and $142,206 in state aid.
Englishtown’s 2017 budget totaled $2.4 million and was supported by the collection of $1.5 million in taxes from property owners. Other revenue included $300,000 from surplus funds and $142,206 in state aid.
In 2017 the municipal tax rate was 62 cents per $100 of assessed valuation. The owner of a home assessed at $200,000 paid $1,240 in municipal taxes. The owner of a home assessed at $330,000 paid $2,046. The owner of a home assessed at $450,000 paid $2,790.
In 2018, the municipal tax rate is projected to be 63.1 cents per $100 of assessed valuation. On a $200,000 assessment, that homeowner will pay $1,262 in municipal taxes. On a $330,000 assessment, that homeowner will pay $2,082. On a $450,000 assessment, that homeowner will pay $2,840.
Municipal taxes are one component of a property owner’s tax bill, which also includes Manalapan-Englishtown Regional School District taxes, Freehold Regional High School District taxes, Monmouth County taxes and other assessments.
Individuals pay more or less in taxes depending on the assessed value of their home and property, and the tax rate established by each taxing entity.
Englishtown’s 2018 budget includes the following appropriations: police department, $711,000 ($601,000 in salaries and wages and $110,000 in other expenses); insurance, $206,000 ($201,000 in employee group health and $5,000 in health benefits waiver); Police and Fireman’s Retirement System of New Jersey, $133,000; garbage and trash removal, $156,000; road repair and maintenance, $46,500 ($30,500 in salaries and wages and $16,000 in other expenses); buildings and grounds, $51,800 ($40,000 in other expenses and $11,800 in salaries and wages); and code enforcement, $22,900 ($19,900 in salaries and wages and $300 in other expenses).