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YOUR TAX DOLLARS AT WORK

With the adoption of our 2016 Current Fund and Capital Budget on March 10, 2016, the Township Committee would like to advise you of the current financial position of the Township. The Township's $26,426,940 Operating and Capital Budget represents the joint effort of the governing body and all departments to limit spending while still maintaining a high level of service to all its residents.

Revenues to support your Township Budget of $26 million are derived from fees for various municipal services established by the Township Committee, franchise and other business taxes, interest on investments and State aid. Therefore, only 19% of your total tax rate which is equal to $0.345, represents the cost of the municipal services listed below.

The total tax rate is influenced by your vote on various budgets during the year and the Township Committee's ability to maintain a broad tax base by attracting desirable commercial ratables.

 

2016 TOWNSHIP OF HANOVER TAX RATE COMPARISON

2016 TOWNSHIP OF HANOVER TAX RATE COMPARISON

2016

2016

2015

%

THE 2016 TAX DOLLAR ANALYSIS

Tax Amount

Rate

Rate

Increase

Increase

County Taxes

$ 10,373,842.44

$ 0.283

$ 0.266

$ 0.017

6.39%

Local School Tax

$ 24,483,937.00

$ 0.667

$ 0.646

$ 0.021

3.25%

Regional High School Tax

$ 12,632,510.00

$ 0.343

$ 0.315

$ 0.028

8.89%

Local Open Space

$ 183,758.53

$ 0.005

$ 0.005

$ -

0.00%

Local Tax

$ 12,712,461.00

$ 0.345

$ 0.346

$ 0.002

0.46%

Reserve for Uncollected Taxes

$ 3,224,844.88

$ 0.088

$ 0.085

Total Tax Levy (Before Fire Districts)

$ 63,611,353.85

$ 1.731

$ 1.663

$ 0.068

4.09%

Fire Taxes - District #2

$ 1,066,040.00

$ 0.047

$ 0.044

$ 0.003

6.82%

Fire Taxes - District #3

$ 1,105,395.00

$ 0.080

$ 0.078

$ 0.002

2.56%

$ 65,782,788.85

Total Levy - Fire District #2

$ 1.778

$ 1.707

$ 0.071

4.16%

Total Levy - Fire District #3

$ 1.811

$ 1.741

$ 0.070

4.02%