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Township officials break down how the tax levy is calculated and where the money goes
Summary
Officials showed that the municipal share of the tax levy is calculated by dividing the municipal levy by total assessed valuation, explained the four taxing entities on the bill (township, school, county, library), and presented a breakdown of how township levy funds are allocated.
Township presenters explained how the municipal tax rate is calculated and how tax levy dollars are applied. Using the municipal levy and total assessed valuation, the township computes a municipal rate and applies it to each parcel; the township then remits statutory shares to other taxing districts (school, county and library). "So we are the collecting agency for all 4 of those entities," Kevin Santangelo said, explaining the township’s role as collector and remitter.
Officials noted that about 48.6% of this year’s township budget is funded by property tax levy, with major appropriation categories including public safety, reserves for uncollected taxes, pensions and capital improvements. The presenters said Bernards operates on a 'pay-as-you-go' capital philosophy with limited recent bonding, and highlighted reserve management and cash-flow sensitivity when collections are delayed.
