![]() ![]() ![]() Individuals pay more or less in taxes depending on the assessed value of their home and/or property and the annual tax rate that is set by each taxing entity. Municipal taxes are one item on a property owner’s tax bill, which also includes Freehold Township K-8 School District taxes, Freehold Regional High School District taxes, Monmouth County taxes and a fire district tax. The owner of that home will pay about $1,561 in municipal taxes (0.316 x 4,942). However, the average home is now estimated to be assessed at $494,212. In 2022, the municipal tax rate is projected to decrease to 31.6 cents per $100 of assessed valuation. The owner of that home paid about $1,427 in municipal taxes (0.335 x 4,261). The average home in Freehold Township was assessed at $426,190. In 2021, the municipal tax rate was 33.5 cents per $100 of assessed valuation. Other revenue included the receipt of $7.44 million in state aid an amount which officials said has remained unchanged for 10 years.įrom 2021 to 2022, appropriations have increased by $2.37 million and the tax levy has increased by $690,990. Freehold Township’s 2021 budget totaled $43 million and was supported by the collection of $23 million in taxes from property owners.
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