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The Township Council voted last night on final approval of a 2009 budget to be submitted to the State of New Jersey for final state approval. The total municipal budget approved for 2009 is $68,672,648, compared to last year’s total municipal budget of $68,097,844, an increase of eight-tenths of 1%. The municipal portion of the property tax bill for the average residential taxpayer will increase by $132 for 2009 as a result of the new budget.
“Although everyone would like to see a zero tax increase, we have struck a budget that maintains vital services to the community, does not use any one-time 'gimmicks' like the pension deferral program, and has Montclair in a pretty solid position for the future,” said Township Manager Joseph Hartnett, noting also that the Township has maintained its AA Wall Street rating. “We have also taken notice that thus far this municipal tax increase is the second lowest for any municipality in Essex County without utilizing the pension deferral program," he said.
Noting that the Township has reduced the number of full-time positions from 451 to 401 over the past five years, the Manager stated that he and the Council would continue to “work hard at finding cost-saving measures wherever possible.”
Additional details regarding the Township budget:
Township of Montclair – 6/9/09 Proposed Amended Budget Tax Facts
[Note: This information is prepared as of 6/9/09 and the County Board of Taxation has not yet officially certified the tax rates or provided information regarding the Township’s share of the County Tax*.]
Tax Rate:
|
2008 |
% of tax bill |
2009 |
% of tax bill |
% change |
|
|
|
|
|
|
Tax Rate |
2.301 |
|
2.382 |
|
3.52% |
School Debt |
0.065 |
3% |
0.060 |
3% |
(7.69%) |
School Operating |
1.268 |
55% |
1.320 |
55% |
4.10% |
Muni Share |
0.589 |
26% |
0.612 |
26% |
3.90% |
County Share* |
0.379 |
16% |
0.390* |
16% |
2.90% |
Tax Averages:
- Average Residential Property Assessment = $653,000.
- Taxes paid on average residential assessment = $15,554.
- School taxes paid on average residential assessment = $9,011.
- Municipal taxes paid on average residential assessment = $3,996.
- County taxes paid on average residential assessment = $2,547.
Amounts to be Raised by Taxes in Dollars:
Schools |
$ 101,262,333 |
Municipality |
$ 44,901,247 |
County |
$ 28,598,000 |
Total |
$ 174,761,580 |
Total Municipal Budget:
2008 = $68,097,844 2009 = $68,672,648 + $574,804 + 8/10ths of 1% Less than 1%.
Tax Data:
- Value of 1 tax point = $733,668 (every $733,668 change in the amount to be raised by taxes changes the tax rate by .01).
- Every $733,668 change in the amount to be raised by taxes changes the average tax bill by $65.30/year or $5.44/month.
- The amount to be raised by taxes is lowered by increases in other revenues received or by decreases in appropriations; the amount to be raised by taxes goes up by decreases in other revenues received or by increases in appropriations.
- Every $100,000 change in the amount to be raised by taxes changes the average tax bill by $8.90/year or 74¢/month.
- Each $100 reduction in the average residential tax bill would require cuts of $1,123,534 in appropriations, or new revenues of $1,123,534, or a combination of the two equaling $1,123,534
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