Citing the rising price of gasoline, Toms River’s proposed budget is also increasing. The proposed municipal budget is now more than $100 million.
Tonight the Toms River Township Council agreed to amend the adding in an increase of $230,000 for the expense of gasoline.
Township Administrator Paul Shives said that since the township crafted the budget in February, the price of and it was necessary to recalculate the budget for gasoline expenses.
“Based on current and projected trends, we believe additional funds will be necessary in this line item,” Shives said. “To that end, we are strongly recommending that an additional $230,000 be placed in this line-item.”
The total budget is now up to $148 million. Shives said the increase is still a small portion of the total budget.
“This change has a negligible impact on the budget and the amount to be raised by taxation. The increase in the tax rate would still be less than 3 cents,” he said.
The on the budget was held in April. The township is scheduled to vote on the budget at its May 24 meeting.
could pay 2.8 cents more per $100 of assessed property, with a total $0.63 municipal tax rate, according to the municipal budget introduced last month.
The budget before the added gasoline expense was $97.984 million, which is 1.2 percent more than last year.
The increased taxes proposed equate to an average of $105.09 more in tax payments for the year, or $8.76 per month.