With a local open space tax rate of 3 cents per $100 of assessed valuation in place, the owner of that home will pay about $148 into the open space trust fund this year. The average home in Freehold Township is assessed at $494,212 in 2022. “The increase of the open space tax rate from 3 cents to 4 cents (per $100 of assessed valuation) will provide a necessary tool in keeping our commitment to the wishes of the township residents by providing more buying power through increased funds,” Fasano said.
By having dedicated revenue, we can protect open space through direct purchase or farmland preservation. “To date, we have over 9,500 acres of open space, making us one of the most preserved municipalities in Monmouth County for open space. Regarding the proposal – which would generate additional funding for open space purposes – Mayor Maureen Fasano said, “It has been a constant commitment of the Township Committee to preserve open space. Voters are being asked if they want to increase the annual tax collection rate for Freehold Township’s open space, recreation, floodplain protection, and farmland and historic preservation trust fund from the current rate of 3 cents per $100 of assessed valuation to 4 cents per $100 of assessed valuation. In July, Township Committee members adopted an ordinance which authorized the public question to be placed on the November ballot. The open space tax rate generates revenue on an annual basis that funds the community’s open space trust fund. Residents have the option to vote “yes” or “no.” A simple majority will decide the outcome of the referendum. A public question on the ballot asks voters if Freehold Township should increase its open space tax rate from 3 cents per $100 of assessed valuation to 4 cents per $100 of assessed valuation.
0 kommentar(er)
