Proposed Municipal Tax Rate for 2011 is 6% higher

On June 23, Holmdel taxpayers will have a chance to comment on the new tax rate for municipal purposes in the township's 2011 proposed budget.

The $20 million budget is supported by a proposed $12.1 million tax levy, a  6.14% increase on the municipal property tax rate from last year.  (See chart below.)

To listen to Mayor Patrick Impreveduto's budget address on May 19, . 

The information was provided by Acting CFO Jeanette M. Larrison. It was not available the night the budget was introduced.

 The "local municipal purposes tax" is one part of a resident's tax bill. In 2010, it represented 14.44 percent of a resident's property tax bill in Holmdel. 

The school tax represented 67.32 percent of the bill in 2010. This year there will be no increase in school taxes, because the Board of Education's zero-tax rate increase budget won voter approval its April. For more details on how the 2010 property tax bill looked, see the attached document provided by the Tax Collector's office. 

Also included in the calculation of the general tax rate is the county budget, the county library budget, and municipal open space fund.  

In the township newsletter released May 26,, Larrison said "The tax rate is contingent upon the State of New Jersey’s budget; therefore it sometimes causes delays in tax bill mailing. Tax bills are required, by state statute, to be mailed a minimum of 25 days prior to the due date of August 1st," she said. 

Tax Rate

Municipal tax for owner of home assessed at $616,769 

2010

.2964 per $100 of assessed valuation

$1828

2011

Proposed

.3146 per $100 of assessed valuation

$1940