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Township of Hanover Finances
 

 

YOUR TAX DOLLARS AT WORK

With the adoption of our 2012 Current Fund and Capital Budget on April 12, 2012, the Township Committee would like to advise you of the current financial position of the Township. The Township's $22,540,338.54 Operating and Capital Budget represents the joint effort of the governing body and all departments to limit spending while still maintaining a high level of service to all its residents.

Revenues to support your Township Budget of $22.5 million are derived from fees for various municipal services established by the Township Committee, franchise and other business taxes, interest on investments and State aid. Therefore, only 20% of your total tax rate which is equal to $0.340, represents the cost of the municipal services listed below.

The total tax rate is influenced by your vote on various budgets during the year and the Township Committee's ability to maintain a broad tax base by attracting desirable commercial ratables.

2012 TAX RATE
MUNICIPAL TAX - LOCAL BUDGET $.340
MUNICIPAL TAX - OPEN SPACE .005
COUNTY TAX .270
LOCAL SCHOOL TAX  .628
REGIONAL SCHOOL TAX .302
RESERVED FOR UNCOLLECTED TAX .085
FIRE TAX
Cedar Knolls District .075
Whippany District .040

TOTAL RATE: Cedar Knolls $1.705
TOTAL RATE: Whippany $1.670

HANOVER TOWNSHIP FINANCIALS