MIDDLETOWN – Members of the Middletown Township Committee have adopted a $79.92 million budget to fund the operation of the municipality during 2019.
During a meeting on May 6, Mayor Tony Perry, Deputy Mayor Anthony Fiore, Committeeman Rick Hibell, Committeeman Kevin Settembrino and Committeewoman Patricia Snell voted “yes” on a motion to adopt the spending plan.
In 2018, the municipal budget totaled $77.05 million and was supported through the collection of $56.72 million in taxes from Middletown’s residential and commercial property owners. The total tax levy includes a library tax. Other revenue in the budget included $6.76 million from surplus funds (savings), $6 million in state aid and $4.16 million in local revenues.
The 2019 budget totals $79.92 million and will be supported through the collection of $57.85 million in taxes from Middletown’s residential and commercial property owners. Other revenue in the budget includes $7.15 million from surplus.
Significant appropriations in the 2019 budget include group health insurance benefits, $10.11 million; police salaries and wages, $14.56 million; fire hydrants, $810,000; Department of Public Works – Salaries and Wages, $2.25 million; Parks – Salaries and Wages, $1.12 million; maintenance of public property, $711,329; and Recreation – Salaries and Wages, $463,374.
In 2018, the municipal tax rate was 48.9 cents per $100 of assessed valuation. The owner of a home assessed at the township average of $423,427 paid about $2,070 in municipal taxes in 2018.
The estimated 2019 municipal tax rate will be 47.6 cents per $100 of assessed valuation. The average home in Middletown is now assessed at $444,180. The owner of that home will pay about $2,114 in municipal taxes this year.
Municipal taxes are one item on a property owner’s tax bill. Middletown property owners also pay school taxes and Monmouth County taxes.
The amount an individual pays in property taxes is determined by the assessed value of his home and/or property, and the tax rate that is set by each taxing entity.