SAYREVILLE – The Sayreville Borough Council has adopted a $62.7 million budget to fund the operation of the municipality during 2020.
The $62.7 million budget, which was adopted by council members during a recent meeting, will be supported by the collection of $33.4 million in taxes from residential and commercial property owners, according to the budget document. Other revenue includes $9.274 million in state aid and $3.56 million from surplus funds (savings).
Sayreville’s 2019 budget totaled $61.44 million and was supported by the collection of $32.7 million in taxes from property owners, according to the 2020 budget document. Other revenue included $9.27 million in state aid and $3.1 million from surplus funds.
The municipal tax rate in 2019 was about $1.423 per $100 of assessed valuation. The average home in Sayreville was assessed at $144,844 and the owner of that home paid about $2,062 in municipal taxes.
In 2020, the municipal tax rate is projected to increase to $1.452 cents per $100 of assessed valuation. The average home assessment is now estimated to be $144,864. The owner of that home will pay $2,103 in municipal taxes, an increase of $41.
Municipal taxes are one component of a property owner’s tax bill, which also includes Middlesex County taxes and Sayreville School District taxes. Individuals pay more or less in taxes depending on the assessed value of their home and/or property, and the tax rate that is set by each taxing entity.
Selected appropriations in the 2020 municipal budget include the following line items: public safety, $15.2 million; insurance, $10 million; debt, $5.52 million; statutory expenditures, $5.14 million; general government, $4.74 million; shared services, $4.19 million; public works, $3.9 million; landfill and solid waste disposal, $2.56 million; reserve for uncollected taxes, $2.49 million; unclassified, $1.78 million; education (including library), $1.69 million; utilities and bulk purchases, $1.62 million; and parks and recreation, $1.4 million.