Budget Presentation Delayed To June 20
The municipal portion of the average residents' property taxes could increase $112 if budget is approved as it was introduced.
The annual presentation and vote on the 2012 municipal budget has been delayed to the council’s June 20 meeting.
Township clerk Paul Margiotta confirmed the scheduling change Wednesday. He did not give a reason why the change was made. The meeting will be held in the council chamber in the municipal building beginning at 8 p.m. It will also be broadcast online and on cable channel 77.
The municipal portion of the average homeowner’s taxes could increase $112 if the council approves the proposed $55.5 million tax levy. The levy is part of the township’s proposed $77.8 million budget. The levy is the portion of the budget funded by municipal taxes. The average home is assessed at $229,000.
Councilman James Jimenez, a certified public accountant, is leading a committee of four council members that is examining and discussing the budget.
Chief Financial Officer Robert Miller previously said that health care costs, which are included in determining the municipal tax rate, increased $1.6 million from last year.
Miller also said that the town incurred nearly $440,000 in “storm-related” costs in 2011.
Council President Joseph Scuralli previously said that the township must operate “as effectively as possible” to help minimize the effect property taxes have on homeowners’ budgets.
“The higher property taxes go, if residents budget a certain percentage of their money for housing and if housing prices go back up the monthly mortgage payments will be more expensive,” Scuralli said.
Residents can view the budget as it was introduced earlier this year on the township’s Web site.
The nearly 80-page document features a comprehensive breakdown of the anticipated amount of revenues and expenditures for 2012.
The final budget last year was approximately $76.6 million. The municipal portion of the average homeowner’s taxes increased $89. The tax levy was about $56.7 million. The council approved the budget 5-4.
Nine full-time positions, including four police officers, were eliminated last year; that saved the township $733,000 in salaries. The township paid out approximately $28.8 million in salaries last year.