Monday, February 25, 2008

2008-2009 Mount Olive BOE Budget - Where do your tax dollars go?

MOUNT OLIVE TOWNSHIP, NEW JERSEY - The next scheduled Mount Olive Township Board Of Education(BOE) meeting is scheduled for Monday, February 25th at the Middle School cafeteria beginning at 7:00PM. The purpose of this meeting is to discuss the BOE budget draft. Mount Olive residents are encouraged to attend to ask questions and voice concerns.

Be an Informed Voter
The 2008-2009 Budget Draft Presentation and the 2008-2009 Preliminary Budget Worksheets are available on the
Mount Olive Township Board of Education website >>

The last day to register to vote for the 2008 School Board Election is March 25th, 2008.

School Board Election Day is April 15th, 2008.

Where does my property tax go?
The Township collects the amount of tax dollars that the three units of local government (local schools, municipal government, and county government) determine is necessary to operate.

How are Property Taxes Calculated?
A municipalities general tax rate is calculated by dividing the total dollar amount needed to meet local budget expenses by the total assessed value of all its taxable property.

An individual's property taxes are then calculated by multiplying the general tax rate by the assessed value of the individual's particular property.

The State of New Jersey does not participate in drafting of local budgets, nor does it receive any of the property taxes collected.

For more information on local property tax, visit the
State of New Jersey website >>

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