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Plumsted Township 2013 Budget Questions or Comments Contact: Mayor David Leutwyler 609-758-2241 1.

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Presentation on theme: "Plumsted Township 2013 Budget Questions or Comments Contact: Mayor David Leutwyler 609-758-2241 1."— Presentation transcript:

1 Plumsted Township 2013 Budget Questions or Comments Contact: Mayor David Leutwyler

2 2013 BUDGET INTRODUCTION 3/14/13 PUBLIC HEARING: 5/1/13 MUNICIPAL BUILDING, 121 EVERGREEN RD 8:00 P.M. BUDGET INFORMATION POSTED ON TOWNSHIP WEBSITE COPY AVAILABLE AT MUNICIPAL BUILDING LIBRARY 2

3 BUDGET OVERVIEW 2012 Budget $3,291, Budget $3,258, is $32,972 LESS than

4 TOTAL SALARIES – 5 PAST YEARS 2009: $1,360, : $1,252, : $1,158, : $1,165, : $1,196,999 Differences: 2013 is $31,109 more than % entire increase in 2013 is contractual with police 2013 is $163,973 less than % 4

5 TOTAL OPERATING EXPENSES 2010: $1,563, : $1,268, : $1,247, : $1,141,893 Differences 2013 is $105,519 less than % 2013 is $421,695 less than % 5

6 2% TAX CAP LEVY LAW PROVIDES FOR: TAXING AND SPENDING CAPS TAX CAP 2% $31,793 DEBT & CAPITAL INCREASE 71,982 REVALUATION 28,334 HEALTH INSURANCE 22,824 PENSION INCREASE 9,082 6

7 MAXIMUM TAX WITHIN 2% TAX CAP LAW $1,756,447 $159,381 TAX DOLLAR INCREASE $0.05 increase in the tax rate – due to ratable loss. Needed just to raise same amount of taxes as last year 7

8 8 $0.02 increase in the tax rate covers the $159,381 tax dollar increase Total 2013 tax rate $0.22

9 2% TAX CAP LEVY LAW 2013 BUDGET IS IN COMPLIANCE NO BALLOT QUESTION TO EXCEED CAP NOT SEEKING TO EXCEED TAXING CAP 9 SEEKING TRANSITIONAL STATE AID

10 10 Ratable Base Loss $1,055,257,351 in 2012 vs. $ 785,909,959 in 2013 a loss of $269,347,392 or 25.5% $372,067 $275,900

11 11 Value of $0.01 of tax rate 2012 $105, $ 78,590 Decrease $26,935

12 TAX DOLLAR CHANGE FOR AVERAGE HOME (Township portion) 2012 BUDGET AT $0.15 = $ BUDGET AT $0.22 = $616  INCREASE OF $55 or 9.8% 12

13 13 COMPARISON WITH OCEAN COUNTY AVERAGE AVERAGE MUNICIPAL TAX PORTION $1,764 AVERGAE PLUMSTED TAX PORTION 616 DIFFERENCE $1,148 LESS PLUMSTED REMAINS LOWEST IN OCEAN COUNTY

14 14 COMPARISON WITH NEW JERSEY AVERAGE AVERAGE NJ PROPERTY TAX $7,870 AVERGAE PLUMSTED PROPERTY TAX 6,345 DIFFERENCE $1,525 LESS

15 2013 Estimated Total Tax Bill % of Total Tax School 63.8% $ 11,539,957 County 17.6% $ 3,184,692 Township 9.7% $ 1,756,447 Fire 8.0% $ 1,441,545 Open Space 0.9% $ 157,181 Total 100% $ 18,079,822 15

16 2013 vs Estimated Change Change % School $ 11,539,957 $11,142, , County 3,184,692 3,193,951 -9, Township 1,756,447 1,597, , Fire 1,441,545 1,287, , Open Space 157, , , Total $ 18,079,822 $17,432, Total estimated increase 2013 vs is $647,168 or 3.7%

17 17 HISTORY OF TAX APPEALS YearValuation LossMunicipalSchoolCountyFireTotal 2008 $ 2,523, $ 2, $ 24, $ 6, $ 1, $ 35, $ 4,332, $ 5, $ 42, $ 12, $ 4, $ 64, $ 8,209, $ 10, $ 82, $ 24, $ 8, $ 126, $ 16,069, $ 24, $ 161, $ 48, $ 17, $ 251, $ 22,686, $ 38, $ 239, $ 68, $ 27, $ 375, TOTALS $ 53,821, $ 82, $ 549, $ 161, $ 58, $ 852, The township was forced to borrow $145,000 in 2011 and $282,000 in 2012 so that we were able to pay the School, County and Fire districts.

18 18 Reassessment lowered tax base by $269,347,392 Estimated 2013 Total Tax Rate is $2.30 per 100 Actual 2012 Total Tax Rate is $1.65 per 100

19 vs Average Home Assessment Tax Rate Tax , $6, , ,139 Change $206 is a 3.4% increase over 2012 $0.57 of the rate increase of $0.65 is due to the ratable loss and $0.08 is the total estimated tax increase

20 Plumsted Township 2013 Budget Questions or Comments Contact: Mayor David Leutwyler


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