HomeMy Public PortalAboutr 08:156
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o 8 - 15 6 Date of AdoptioD Jnne 19. 2008
No.
RESOLUTION AUTHORIZING THE
BOROUGH OF CARTERET TAX COLLECTOR
TO PREPARE AND MAlL ESTIMATED TAX
BILLS IN ACCORDANCE WITH P.L. 1994, c.72
WHEREAS, due to the late adoption ofthe Borough of Carteret's Budget, the
Middlesex County Board of Taxation is unable to certify tax rates for the Borough of
Carteret and the Tax Collector will be unable 10 mail the Borough's 2008/2009 tax bills
on a timely basis; and
WHEREAS, the Borough of Carteret Tax Collector/Chief Financial Officer has
computed an estimated tax levy in accordance with NJSA 54:4~66.3 and have signed a
certification showing the tax levies for the prior year, the tax rates and the range of
pemlitted estimated tax levies:
NOW, THEREFORE, BE IT RESOLVED, by the Mayor and the Council of
the Borough ofCarteret, in the County of Middlesex and the State of New Jersey on this
day of 19" day of June, 2008, as follows:
1. The Carteret Tax Collector is hereby authorized and directed to
prepare and issue estimated tax bills for the Borough ofCarteret
for the third installment of the 2008 taxes. The Tax Collector shall
proceed and take such actions as are pennitted and required by
P.L. 1994, c.72(NJSA 54:4-66.2 and 54:4-66.3)
2. The entire estimated levy for 2008 is hereby set at $ 5.145.
3. 1n accordance with the law the third instalhnent of2008 taxes shall
not be subject to interest until the later of August lOlh or the
twenty-fifth calendar day after the date the estimated bill are
mailed. The estimated tax bills shall contain a notice specifying the
date on which interest may begin to accme.
Adopted this 19th day of Juue, 2008
and certified as a tme copy of the
original on June 29, 2008.
KATHLEENM. BARNEY, MMC
Municipal Clerk
RECORD OF COUNCIL VOTE
COUNCILMAN YES NO NV A.B. COUNCILl\.lAN YES NO NV A.B.
BELT ll\n Y T<RllM ::.- y
~,~, v "'PT"" Y
DIAZ X y
X-Indicate Vote AS-Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto
Adopted at a meeting of the Municipal Council /')
~. June 19 2008
, . ;ee4Ji 1}ti~MV1
o
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Proposed Calculation of 2008 Estimated Tax Rate
Proposed 103.8%
Introduced Borough Budget
Introduced Municipal Open Space Budget
Adopted Local School Budget
Adopted Middlesex County Budget
2007 TAX LEVY & TAX RATE
2008 ESTIMATED RANGE FOR TAX LEVY
(Percentage of 2007 Levy)
Local
Open Space
School
County
Totals
Levv
$17,987,611.54
295,759.42
24,224,455.00
6.981.845.29
$49,489,671.25
Rate
1. 7 56
.030
2.476
.708
4.970
95%
Local $17,088,230.96
Open Space 280,971.45
School 23,013,232.25
County 6.632.753.03
$47,015,187.69
105%
$18,886,992.12
310,547.39
25,435,677.75
7.330.937.55
$51,964,154.81
2008 Estimated Tax Rate
2008 Ratable Total: $998,512,292
Amount to be Raised bv Taxation:
Local $ 19,258,140.54
Open Space 299,553.69
School 24,365,927.50
County 7.445.245.57
Totals $51,368,867.30
Tax Rate:
$1.929 (Estimated-Exceeds I 05% range) 107.1 %
.030 (Estimated- within range) 101.2
2.440 (Estimated- within range) 100.6%
.746 (Estimated-Exceeds 105% range) 106.6%
$5.145 (Estimated-within range) 103.8%
Prepared and Certified by:
Patrick J. DeBlasio, CFO, CTC
For Information Purposes
Not to be Included with Certification
Proposed Calculation of 2008 Estimated Tax Rate
Proposed %
Adopted Special Improvement District 1
Adopted Special Improvement District 2
2007 TAX LEVY & TAX RATE
2008 ESTIMATED RANGE FOR TAX LEVY
(Percentage of2007 Levy)
SID 1
SID 2
Special Improvement District
Levy
$750,500.00
$200,000.00
Rate
.198
.058
SID I
SID 2
95%
$712,975.00
$190,000.00
105%
$788,025.00
$210,000.00
2008 Estimated Tax Rate
SID 1 2008 Ratable Total: $390,261,334
SID 2 2008 Ratable Total: 355,572,734
Amount to be Raised by Taxation:
SID 1 $770,500.00
SID 2 200,000.00
Tax Rate:
$ .198 (Estimated-within range) 102.7%
.057 (Estimated- within range) 100.0%
Prepared and Certified by:
Patrick J. DeBlasio, CFO, CTC