The Middletown Township Committee is slated to introduce their 2015 budget tonight with a spending decrease of $959,463. The total budget as introduced will be $69,437,466 compared to 2014 spending of $70,396,929.
Decreased non-tax revenues, including parking permits and court fees, of $2.8 million and increases in snow removal costs of $1.3 million and insurance costs of $600,000, were off set by savings from shared services agreements with other municipalities and the Middletown Board of Education, as well as utility cost savings for $223,000.
The tax levy on Township property owners will increase $428,484 to $46,964,220, not including the Township Library. With the library budget of $3,445,649, the overall tax levy increases by $486,502.Art Gallagher | Filed under: Middletown, Monmouth County, Monmouth County News | Tags: 2015 Budget, Mayor Stephanie Murray, Middletown, Middletown Township, Property Taxes, Tony Fiore | 1 Comment »
What do Alpine and Harding, two of the state’s wealthiest enclaves, have in common with Newark, Camden and Trenton, three of New Jersey’s largest and poorest cities? All five spend more than $2,000 per person on municipal government services — 50 percent more than the average for the state’s 513 nonresort communities, Raphael J. Caprio and…admin | Filed under: New Jersey, Property Taxes | Tags: municipal consolidations, New Jersey, Property Taxes | Comments Off
As New Jersey’s economy and housing market struggled to recover from the recession in 2013, property owners filed a near-record of more than 100,000 tax appeals, winning an average reduction of $40,093 in assessed valuation and a proportionate tax cut…
admin | Filed under: New Jersey, Property Taxes | Tags: Property Tax Appeals, Property Taxes | 1 Comment »
Legislation sponsored by Sen. Jennifer Beck that would make veterans living in retirement and long-term care communities eligible for a state veterans property tax deduction and a tax exemption intended for disabled veterans cleared its Senate committee…
admin | Filed under: Jennifer Beck, NJ State Legislature, Property Taxes, Veterans | Tags: Property Taxes, Sen Jennifer Beck, Veterans | Comments Off
By Assemblyman Declan O’Scanlon
When Gov. Christie came to office in 2010, he took action to address the biggest problem New Jerseyans have faced for decades – property taxes. Working with the Legislature, historic tax reforms were signed into law. These included a two percent limit on property tax levies, increased health and pension contributions by public employees and a two percent cap on awards arbitrators can grant when towns and their unions can’t agree on a contract.
These cost control tools are working. Recent property tax data shows the average property tax bill grew by 1.7 percent in 2013 and by the lowest consistent rate in decades since the reforms were passed. While our ultimate goal is to actually cut property taxes, slowing their growth is an essential first step.
The clock is now counting down to the destruction of the delicate framework that has successfully controlled our property taxes. An essential component of that framework – the arbitration award cap which enables local officials to control their largest costs – expired on April 1 of this year. The first contracts exempt from the cap will expire in June. That will be a disaster for property taxpayers throughout New Jersey. Without an honest and effective arbitration award cap, the property tax cap will fail.
The state’s interest arbitration cap law is one of the primary reasons we have turned the tide on the escalation of property taxes. According to the Public Employment Relations Commission, from January 2011 (when the arbitration law took effect) to September 2013, average raises in local contracts, whether through arbitration or negotiations, were 1.86 percent — the lowest in at least 20 years.admin | Filed under: Declan O'Scanlon, NJ State Legislature, Property Tax Tool Kit, Property Taxes | Tags: Assemblyman Declan O'Scanlon, Interest Arbitration Cap, Property Tax Cap, Property Tax Tool Kit, Property Taxes | 4 Comments »