HAZLET – The members of the Township Committee in Hazlet have adopted a $24.51 million budget to fund the operation of the municipality this year. The municipal tax rate has remained stable for a third consecutive year.
The budget, which was adopted by committee members on Aug. 2, will be supported by the collection of $16.63 million in taxes from Hazlet’s residential and commercial property owners.
Other revenue in the budget includes the appropriation of $2.57 million from the township’s surplus fund (savings) and the receipt of $1.88 million in state aid.
Hazlet’s 2021 budget totaled $21.5 million and was supported by the collection of $15.2 million in taxes, the appropriation of $1.24 million from the surplus fund and the receipt of $1.88 million in state aid.
From 2021 to 2022, appropriations have increased by $3.03 million and the tax levy has increased by $1.42 million.
In 2021, the municipal tax rate was 56.3 cents per $100 of assessed valuation. On a home assessed at $350,000, municipal taxes were $1,971.
In 2022, the municipal tax rate is projected to remain stable at 56.3 cents per $100 of assessed valuation. On a home that is still assessed at $350,000, municipal taxes will remain $1,971. However, if an individual’s home assessment has increased this year, for example, to $375,000, the municipal taxes would be $2,111.
According to officials, Hazlet’s municipal tax rate has remained stable at 56.3 cents per $100 of assessed valuation during 2020, 2021 and 2022.
Individuals pay more or less in taxes depending on the assessed value of their home and/or property and the annual tax rate that is set by each taxing entity (i.e., municipality, county, school district).
Municipal taxes are one item on a Hazlet property owner’s tax bill, which also includes Hazlet Township Public School District taxes and Monmouth County taxes.
Selected appropriations in Hazlet’s 2022 municipal budget include the following line items: police salaries and wages, $4.3 million; police salaries and wages (paid by American Rescue Plan), $1.03 million; employee group health insurance, $2.7 million; workers compensation insurance, $500,000; capital improvement fund, $1.47 million; payment of bond principal, $1.02 million; interest on bonds, $756,500; Monmouth County dispatcher program, $226,813; payment to Police and Firemen’s Retirement System of New Jersey, $1.44 million; payment to Social Security System, $650,000; payment to Public Employees’ Retirement System, $420,148; streets and road maintenance, salaries and wages, $688,500; and streets and road maintenance, other expenses, $412,250.
Hazlet has 155 employees in 2022, which is an increase from 103 employees in 2021, according to information provided by municipal officials.