JACKSON – The members of the Jackson Township Council have introduced a $44.85 million budget that will fund the operation of the municipality during 2020.
Council President Barry Calogero, Vice President Alex Sauickie, Councilman Andrew Kern, Councilman Martin Flemming and Councilman Ken Bressi voted to introduce the budget on March 24.
A public hearing on the budget has been scheduled for 7:30 p.m. April 28. The council may adopt the budget that evening.
Residential and commercial property owners in Jackson will pay a total of $645,086 more in municipal taxes to support the operation of the township in 2020 than they did in 2019, according to municipal officials.
In 2019, council members adopted a $44.79 million budget that was supported by the collection of $33 million in taxes from Jackson’s residential and commercial property owners. Officials used $3.7 million from the surplus fund (savings) as revenue in the budget.
The 2019 municipal tax rate was 48.6 cents per $100 of assessed valuation.The average home was assessed at $327,707 and the owner of that home paid about $1,593 in municipal taxes.
In 2020, the $44.85 million budget the council has introduced will be supported by the collection of $33.6 million in taxes from Jackson’s residential and commercial property owners. Officials will use $4.8 million from the surplus fund as revenue in the budget.
The 2020 municipal tax rate is projected to be 49.2 cents per $100 of assessed valuation. The average home is assessed at $328,520 and the owner of that home will pay about $1,617 in municipal taxes.
Municipal taxes are one item on a property owner’s tax bill, which also includes Jackson School District taxes and Ocean County taxes.
The amount of property taxes an individual pays is determined by the assessed value of his home and/or property and the tax rate that is set by each taxing entity.
Business Administrator Terence Wall told the council members that at the end of 2019, the township came in under budget by more than $2.8 million. He said the administration would continue to work hard to try and come in under budget in 2020.