MIDDLETOWN, NJ – The Township Committee’s consistent commitment to keep a tight rein on spending has created a stable tax rate that continues to trend downward.
This year, the municipal tax levy will decrease by $161,459 creating a slight tax decrease for the average homeowner. The Township Committee unanimously approved the decrease as part of the 2017 municipal budget Monday night.
“We’ve taken a fine tooth comb to this budget in order to develop a spending plan that reduces costs with-out sacrificing core essential services,” said Mayor Gerry Scharfenberger, Ph.D. “We consistently seek ways to further minimize costs, maximize revenues and stretch a dollar.”
The municipal tax levy is the amount that needs to be raised by taxation to continue providing more than 21 municipal services. These include police, fire, snow removal, leaf and brush collection, road repairs and maintenance, animal control, and all other township services, while supporting over 40 parks and recreation facilities.
The amount of taxes to be collected from each property is de-pendent upon the tax rate and a property’s assessed value. Assessed value is the value assigned by the municipality for the purpose of levying taxes.
Historically for every dollar paid in property taxes, approximately 63 percent is sent to the school district, 13 percent is sent to Mon-mouth County, and 21 percent stays here in Middletown to cover the cost of municipal operations. Another two percent goes to the municipal library and one percent to the open space fund.
Visit middletownnj.org/budget for more information.