MIDDLETOWN, NJ - After making adjustments for revenue reductions due to the pandemic, the Middletown Township Committee adopted their 2020 municipal budget. The process of amending the budget resulted in a new resolution that made various changes including:
- Increasing the use of surplus by $500,000
- Reducing revenue in various departments such as court, parking meters, field user fees and interest on investments and deposits
The miscellaneous revenues were reduced by about 1.2 million.
"At the beginning of this year, we had set a course that obviously looks much different than what it is turning out to be and obviously we were incredibly fortunate that we were able to swiftly make the adjustments necessary." said Mayor Tony Perry. He pointed to years of fiscal discipline that allowed the township to tighten the overall budget to address the temporary revenue shortfalls that have occurred due to COVID-19.
The original budget presentation may be found HERE
A few of the key takeaways from the meeting and revised budget were a remarkably high tax collection rate of 99.89%. The average impact on a residential home from 2019 to 2020 is 1.46% increase - this equates to about $31.33 for the average home assessed at $447,629.
The revised budget was approved unanimously. You can watch the entire meeting below: