Hazlet Postpones Vote on $20.2 Million Municipal Budget

The Hazlet Township Committee postponed their vote on the proposed $20.2 million municipal budget after holding a public hearing on it Tuesday. 

Chief Financial Officer Tom O'Hara explained that while the budget is complete and no changes are anticipated, the state has not had the time to review and sign off on it. 

"They are swamped," O'Hara said of the state. "They had so many budgets scheduled for public hearing and adoption this week."

The $20,213,458.86 budget holds the tax levy at $13,650,000 for the second year in a row. Under the two percent cap, the township could have increased the amount to be raised by taxes to $14,767,024.

Although the tax levy remained the same, therevaluation of the township decreased the overall value of the property within the town, Chief Financial Officer Tom O'Hara explained. The assessed value of an average home in Hazlet dropped from $301,490 to $259,977.

The decrease in assessed property value resulted in an increase in the tax rate. In 2012, the tax rate was 0.578 per $100 of a home's assessed value. Tax payers will see the rate increase to 0.666 per $100 of a home's assessed value. Even so, the owner of a home priced at the median value - $259,977 - would see a decrease of just over $11 to their annual municipal taxes, O'Hara explained. 

The committee intends to vote on the budget on May 7, assuming they receive approval from the state. There will not be a second public hearing unless significant changes are made to the budget, explained the township's attorney.