JACKSON – Residents will see a slight decrease in taxes with the proposed $59,184,220.73 municipal budget.
The average home assessed at $332,937.87 will have a tax decrease of $7.70, according to township figures.
Of the total $59,184,220.73 budget, $36,039,725.53 will be raised with taxes. This is a 2% increase from last year’s $35,333,731.02.
The Township Council unanimously approved the budget’s introduction and it has been released to the public. The public hearing on the budget will be held on May 28.
A budget presentation by Township Business Administrator Terence Wall showcased details of the budget.
The 2023 municipal tax rate of .501 per $100 of assessed valuation went to .499 per $100 – a change of 0.46%. The assessed valuation of your property is set by township assessors; it is not how much you purchased your house for.
Wall credited the 2024 tax decrease to the hard work performed by Township Chief Financial Officer Sharon Pinkava and Patricia Schwark, along with each of the township’s department heads and staff.
He explained to residents and council members that while the operating budget is presented annually, it is a continual process that occurs each day throughout the year through the entire administration working to make sure that every dollar spent is accounted for at every level of the local government.
This year’s spending plan accounted for an increase in miscellaneous revenue beyond what was anticipated in the 2023 budget. Wall said the township anticipated $583,000 in revenue from returns on investments and deposits, but realized $1.7 million in revenue on those accounts for the fiscal year 2023.
Unanticipated revenue increases are also attributed to the tax decrease in the form of $1 million in unanticipated revenue from off-duty surcharges, a solar farm lease, a cell tower rental agreement, and gas and fuel reimbursements.
The Business Administrator further explained that the majority of the township’s operating budget is derived from statutory costs associated with employee payroll, health and benefits, and contractual agreements.
Jackson has also seen an increase in commercial ratables, alleviating homeowners’ tax burden. “There are no budget gimmicks. The numbers are the numbers. You have to fund the goods and services required by the people who live and work in Jackson Township. Every dollar spent in Jackson is well spent on your behalf,” Wall added.
Although the amount to be raised by taxes is increasing, every resident’s tax payment is going down. This is partly because the total assessments of all property in town went from $7,054,146,900 last year to $7,226,934,900 in 2024, a change of 2.45%.
“I have worked in a number of communities and I would argue that Jackson Township is one of the most fiscally responsible communities in the state of New Jersey, bar none,” Wall said.
“In regard to capital, the township is poised for continued exceptional progress this year, $200,000 is included for this year towards the fund. The $200,000 represents the 5% required in municipal finance that will provide up to $4 million in bonded capital improvements this year. In addition, we set aside another million for additional road work paid in cash for 2024,” Wall commented.
Mayor Michael Reina described Jackson Township’s fiscal status as being in a “healthy financial state and probably better than it has ever been. We have new commercial ratables taking some more of the burden off our residents. We’re spending wisely.”
“Considering the level of inflation and increases in costs of health insurance, contracts and utilities, combined with mandates at the federal and state levels, we won’t have to pass any of those increases on to the residents of Jackson,” the mayor added.
Council President Jennifer Kuhn said that both the municipal and county levels of government have recognized that the cost of services have been rising. “Locally, we held the line. We are reducing the average impact on every home.”
Councilman Mordechai Burnstein credited the teamwork between the administration and the Township Council and their dedication to making sure the interests of the residents were accounted for during the budget process.
Councilmen Steven Chisolm and Nino Borrelli both thanked the financial department and Business Administrator Wall for their hard work on the budget.
“Despite the economy we’re in, where everyone is paying more for almost anything, including gas; I’m glad to see there is a cut in the municipal tax rate, and we maintain a AA municipal tax rating,” Councilman Chisholm said.
“Like every year, I look forward to hearing the introduction of the municipal operating budget for this fiscal year and I’m cautiously optimistic that this year’s budget is a good and fiscally responsible plan for Jackson residents,” Councilman Borelli said.
Wall noted that residents can examine the budget online at jacksontwpnj.net/DocumentCenter/View/15544/2024-Budget-Presentation-PDF. Those with questions can bring them to the podium during the budget’s second reading next month. He said they could also contact the Administration through his office as well.
To view Wall’s budget presentation visit youtube.com/live/vhX5_cSwHnI?si=o6vW_cZ8DokxpJNC&t=2623
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