SOUTH RIVER – The South River Borough Council has introduced a $19.08 million budget to fund the operation of the municipality during 2019.
South River will receive $825,291 in state aid in 2019 and apply the funds in the budget.
Zanga said increases impacting the budget relate to pension costs, sewage treatment costs and debt service payments.
“Increases relate to the treatment and disposal of sewage, an increase in a bond anticipation note interest rate and an increase in the employer pension contribution rate,” he said.
Zanga said new municipal employees being hired are replacements. He said no one is retiring and not being replaced.
In 2018, the municipal tax rate was $2.331 per $100 of assessed valuation. The average home in South River was assessed at $81,988. The owner of that home paid about $1,909 in municipal taxes.
In 2019, the municipal tax rate is projected to be $2.443 per $100 of assessed valuation. The average home in South River is assessed at $82,288. The owner of that home will pay about $2,008 in municipal taxes.
Municipal taxes are one item on a property owner’s tax bill, which also includes South River Public Schools taxes and Middlesex County taxes. The amount of taxes an individual pays is based on the assessed value of his home and/or property and the tax rate that is set by each taxing entity.