HOWELL – The Howell Township Council introduced the 2019 budget at the April 2 meeting. The total budget is calculated at $52,300,450, $28,936,400 of which is to be raised by taxation.
Of the total general appropriations, $38,914,749.66 is included within the appropriation cap, and $10,134,138.86 is excluded from the appropriation cap. By law, towns have to keep certain budget figures within a 2 percent cap.
While approximately 55 percent of this budget will be funded by local taxes, the remaining $23,364,050 will be funded through other revenue including miscellaneous revenues, surplus, and receipts from delinquent taxes.
The 2019 proposed tax rate is $0.401, which is a proposed $0.014 increase on the 2018 tax rate of $0.387, according to Howell Township Chief Financial Officer Lou Palazzo. Residents can expect a tax increase between $50-$100 based on the average residential assessment of $357,214 for 2019.
This budget shows an increase of $1,235,450 from 2018’s adopted budget, which was calculated at $51,065,000. However, the 2018 total revenues realized in 2018 totaled $54,067,192.05, $28,361,081.72 of which was received by taxation.
Palazzo confirmed some of the following highlights of this year’s budget:
- A decrease in surplus anticipated, from $6,195,000 in 2018 to $5,800,000 in 2019 to offset budget appropriations
- State aid remains the same from 2018 to 2019 at $7,918,357
- Sustainable Jersey, NJDOT Safe Corridors, and NJDOT Municipal Road Aid grants received in 2018 are not anticipated for 2019 to date
- No increase or decrease to the mayor and council salaries and wages (remaining at $37,500)
- A $260,629 increase to the state-mandated Police and Firemen’s Retirement System, a statutory expenditure
- A $87,929 increase to the Public Employees Retirement System
- $8,111,413 in Municipal Debt Service, an increase of $476,373 from 2018.
The 2019 budget will be voted on at the May 7 council meeting at 7:30 p.m.