JACKSON – The Township Council recently approved the introduction of a $47.5 million general fund budget that will raise taxes on the average home by $21.
The spending plan which the council unanimously approved calls for a tax levy increase of 1.95%.
$2.1 Million Increase
The proposed budget includes $33.6 million to be raised by property taxes. 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 last year.
This year’s 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. This is an increase of $21.02 this year.
A public hearing on the budget plan has been scheduled for April 28. Business Administrator Terence Wall said the township is “ahead of the curve on the 2020 budget, especially in light of the global pandemic.”
Wall said during a recent council meeting that last year’s budget expenditures that were expected to be $44.7 million actually came in lower at $42.6 million. He also noted that township revenues exceeded expectations by nearly $1.7 million.
Wall said this was due in part to increased interest on investments and deposits, fees and permits, and housing fees.
The spending plan’s introduction was unanimously approved by Council President Barry Calogero, Vice President Alex Sauickie, Councilman Andrew Kern, Councilman Martin Flemming and Councilman Ken Bressi.
In 2019, the council 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. The governing body used $3.7 million from its 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.
This year, 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. Around $4.8 million from the surplus fund will be used as revenue in the spending plan.
The amount of property taxes an individual pays is determined by the assessed value of their home and/or property and the tax rate that is set by each taxing entity.
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.
According to the PowerPoint presentation prepared by Wall, and involved the work of Chief Financial Officer Sharon Pinkava and Asst. Treasurer Patricia Schwark, 2019 revenue figures showed the township’s miscellaneous revenue exceeded the budget totals by $973,538.42 due to interest on investments and deposits, an increase in fees and permits an increase in Housing Fees.
Unanticipated revenue was $720,870.89 and due to off duty surcharge, rental registration and tower rental fees.
Municipal taxes are one item on a property owner’s tax bill, which also includes Jackson School District taxes and Ocean County taxes.
A look at the entire estimated property tax bill for a Jackson resident includes: $96,572,578.90 for the local school district, $33,646,396.96 represents the municipal purpose tax while the county purpose tax is $32,536,196.20.
The Fire District (total levies) represents $6,976,723.96 while municipal open space is $1,366,659.05.
For more details concerning the township’s budget visit
jacksontwpnj.net/documents/announcements/2020/2020budgetpres.pdf
