Monroe $70 million budget has no municipal tax increase
MONROE – The township has introduced a $69.7 million budget for 2023 that calls for no increase in the municipal use tax rate.
The municipal use tax rate will remain at 48.9 cents per $100 of assessed value. That translates to a municipal use tax bill of $1,711 on a home assessed at $350,000.
The municipal use tax, which accounts for only a fifth of the total property tax bill that also includes school and county taxes, funds municipal services such as police, public works and recreation.
“With growing inflation and ongoing economic uncertainty, many residents including myself have had to tighten their belts, and my job as mayor is to do the same to keep our community affordable,” Mayor Stephen Dalina said in a statement. “This is my third budget as your mayor, and our team has worked very hard to develop a responsible budget proposal that continues to provide excellent services but keeps municipal taxes flat."
This is the third year the municipal use tax rate has remained the same.
The mayor said Monroe remains having the second lowest overall effective tax rate in Middlesex County. The effective rate is based on properties being assessed at 100% of their market value. Only Cranbury had a lower effective tax rate.
Figures from Middlesex County say properties in Monroe were assessed in 2022 at 76.97% of their market value.
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Dalina said water and sewer rates will remain flat and continue to be among the lowest in the region.
Helping to keep the municipal tax rate flat were new contracts with all township unions that resulted health care changes and savings.
Unlike many other New Jersey municipalities, there is no increase in Monroe's health insurance premiums, compared with other towns in the state health care plan are experiencing an approximately 23% increase.
Dalina expressed thanks to the unions and all employees "who worked together this past year to make this savings happen.”
“Monroe residents deserve credit for our budget success,” Dalina added. “Despite the challenges many of our residents faced these three years, remarkably, the township again achieved a more than 99% tax collection rate, which helps keep taxes low and stable.”
Email: sloyer@gannettnj.com
Susan Loyer covers Middlesex County and more for MyCentralJersey.com. To get unlimited access to her work, please subscribe or activate your digital account today.
This article originally appeared on MyCentralJersey.com: Monroe NJ $70 million budget has no municipal tax increase
