Breakdown: Where Did Your Cinnaminson Taxes Go In 2014?

New Jersey, land of the property tax.

But where does that money go, and what is it used for?

The New Jersey Department of Community Affairs this week released its complete breakdown of each municipality’s tax payments to schools, libraries, counties, and open space sections.

Property values in Cinnaminson ranked 19th in Burlington County, but Cinnaminson residents paid the 10th highest property taxes. Both the county and school tax levies were the sixth highest.

The average property value of a home in Cinnaminson is $231,767, with the average annual tax payment of $6,893.

But where did those taxes go in 2014? Here’s a breakdown:

County Open Space Preservation Trust Fund: $256,640.01

County Library Tax: $528,024.77

Total County Tax Levy: $6,532,000.85

District School Tax: $31,215,482

Municipal Tax: $9,313,726.32

Municipal Open Space: $270,532

Total Municipal Tax Levy: $9,584,258.32

Total Cinnaminson Tax Used for Tax Rate: $47,331,741.17

The total rate comes out to 2.974, or $2.97 in taxes for every $100 of assessed property value.

County, municipal, and school districts are subject to a 2-percent tax levy cap each year, which prohibits each body from exceeding the previous year’s budget by two-percent. In the case that a town or school district needs to surpass the limit, a vote must be put to the public. Health and pension costs supplied by the town or school district to its employees is exempt from the tax cap.

All tax rates for all municipalities are available on the Department of Community Affairs’ website.

So what do you think? Are you happy with the numbers or do things need to change? Let us know by leaving a comment below.