Proposed Municipal Tax Hike + School Tax Increase = $239 For Average Home
Proposed municipal tax levy is about $55.5 million.
The municipal portion of the average resident’s tax bill could increase $112 if the council approves a proposed $55.5 million tax levy.
The tax levy is part of township’s proposed $77.8 million budget. The tax levy is the portion of the budget funded by municipal taxes.
The final budget last year was approximately $76.6 million. The average home is assessed at $229,000.
Chief Financial Officer Robert Miller said that health care costs, which are included in determining the municipal tax rate, increased nearly $1.6 million from last year. Wayne also reportedly lost $35 million of its tax base from this year to last year.
Miller said the township incurred nearly $440,000 of “storm-related” costs in 2011.
Miller said that there would be “no reduction in services” this year.
The municipal portion of the average homeowner’s tax bill increased nearly $90 last year and $100 in 2010. The 2010 tax levy was approximately $56.5 million.
The school portion of the average homeowner’s taxes will increase $127. The Board of Education approved the district’s $127.3 million tax levy last month. The school district’s total budget is $144 million.
A public hearing on the budget will be held at the town council meeting on June 6. The council will vote on the budget at the meeting. The council approved last year’s budget 5-4.
Council President Joseph Scuralli said that a committee comprised of no more than four council members will examine and discuss the budget once it is presented to the council. Councilman James Jimenez, a certified public accountant, will chair the committee. Councilman Chris McIntyre, the only Democrat on the nine-member council, will also serve on the committee, Scuralli said.
“We just have the budget in general terms for now, we haven’t seen the details yet,” Scuralli said.