regulations promulgated by N.J.S.A. 40A:5-15.1, the Township has no investment policy to limit exposure to custodial credit risk.
Interest rate risk - This is the risk that changes in interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. Other than the rules and regulations promulgated by N.J.S.A. 40A:5-15.1, the Township does not have a formal investment policy that limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates.
Credit risk - Credit risk is the risk that an issuer to an investment will not fulfill its obligation to the holder of the investment. This is measured by assignment of a rating by a nationally recognized rating organization. U.S. Government securities or obligations explicitly guaranteed by the U.S. government are not considered to have credit risk exposure.
Concentration of Credit Risk – Concentration of credit risk is the risk of loss attributed to the magnitude of a government’s investment in a single issuer. Other than the rules and regulations promulgated by N.J.S.A. 40A; 5-15.1, the Township’s investment policies place no limit in the amount the Township may invest in any one issuer. More than 5% of the Township’s investments are in mutual funds and fixed account investment contract. These investments represent 100% of the Township’s total investments.
The following is a three-year comparison of certain statistical information relative to property taxes and property tax collections for the current and previous two years.
Comparison Schedule of Tax Rates
| 2017 | 2016 | 2015 | |
| Tax Rate | $ 2.227 | $ 2.192 | $ 2.154 |
| Apportionment of Tax Rate: | |||
| Municipal | 0.473 | 0.462 | 0.454 |
| Municipal Open Space | 0.020 | 0.020 | 0.020 |
| County General | 0.431 | 0.419 | 0.411 |
| Local School | 1.303 | 1.291 | 1.269 |
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