Property Tax Increase In Approved Morristown 2022 Municipal Budget

MORRISTOWN, NJ — The Township Committee has adopted its 2022 municipal budget, with an estimated 2.2 cent increase in the local property tax rate.

The approved municipal budget is $44,043,376, a 1.5 percent decrease from last year's $44,718,098, primarily due to a decrease in grant money.

The municipal tax rate has risen by 2.2 cents, while the school tax has risen by 1.1 cents. The library tax rate has remained constant, while the county tax rate has decreased by 1.1 cents.

The estimated increase in property taxes for a $357,596 average-assessed home for the year is about $85.

The largest increases in the 2022 budget were:

• Medical and Dental Insurance: $396,014
• PFRS Pension: $190,974
• Health Dept Salary and Wages: $190,053
• Legal –Other expenses: $180,000
• PERS Pension: $134,304

The largest decreases in the 2022 budget were:

• Morris County Public Health Interlocal: $212,840
• Interest on bonds: $135,000
• Reserve for Salary Increases: $125,000
• Legal S&W: $115,000
• Reserve for Tax Appeals: $100,000

"While our preparation has kept us afloat the last two years, our financial health continues to be weighed down by economic pressures and inflation. The reality is that the town's revenues have stagnated for the third year in a row, while costs continue to rise, in fact, the 2.2 cent tax increase is almost equivalent to the $500,000 in municipal court revenue lost since 2019," Mayor Tim Daugherty said.

This year's projects for Morristown include revamping town drainage systems, completing the new traffic pattern on Spring Street, improvements to the town pools and other general infrastructure projects.

The town has a total of $2,085,500 available for new capital projects, including $295,000 for public works, $85,000 for parks and recreation and $75,000 for building improvements.

The total assessed value of the town has risen by about $3 million to just under $2.3 billion.

"I ask for your continued patience and support as we weather yet another year of strain," Daugherty said.

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