EXPLANATORY STATEMENT - (Continued) BUDGET MESSAGE
TOWNSHIP OF JACKSON
Property Tax Levy Cap Calculation 2017: Prior Year Amount to be raised by Taxation Less: Prior Year Deferred Charges to Future Taxation-Unfunded Less: Prior Year Recycling Tax 31,800,458 327 10,000 According to P.L. 2007, Chapter 2007, as amended by P.L. 2008, Chapter 6, and as amended by P.L. 2010, Chapter 44 (S-29 R1), approved July 13, 2010, the State places a 2% limit on the amount the Municipality can increase its tax levy.
Net PY Tax Levy for Municipal Purposes Tax for Cap Calculation Plus 2% CAP Increase 31,790,131 635,803 The tax levy cap calculation is subject to various exclusions such as changes in debt service, certain pension increases, Capital Improvement Fund Appropriations, Health cost and various other exclusions. The law also allows for various adjustments such as the value of new ratables. Additionally, the law allows for municipalities to hold a public referendum to exceed the 2% property tax levy cap.
Adjusted Tax Levy Prior to Exclusions Exclusions: Allowable Health Insurance Cost Increase Allowable Pension Obligations Increase Allowable LOSAP Increase Allowable Capital Improvements Increase Allowable Debt Service, Capital Lease Recycling Tax Appropriation Deferred Charges to Future Taxation Unfunded Add Total Exclusions Less canceled exclusions Adjusted Tax Levy After Exclusions 0 192,940 5,200 340,000 0 10,000 0 548,140 5,560 EMPLOYEE HEALTH INSURANCE\nEmployer share of health care costs: 5,042,420n(excluding Dental, Vision, Disability)nContribution from employees 1,043,827\nTotal Costs for health benefits $ 3,998,593\nContributions reflect only employees participating in the Health Benefits Plan.
Additions: New Ratable adjustment to Levy 44,552,600.00 0.473 210,734 SPLIT FUNCTIONS Within CAP Outside CAP TOTAL
2015 CAP Bank Utilized in 2018 2016 CAP Bank Utilized in 2018 0 911 EMERGENCY S&W Insurance Employee Group Health 4,482,000 0 4,482,000
Maximum Allowable Amount to be Raised by Taxation Amount to be Raised by Taxation for Municipal Purposes Amount to be Raised by Taxation for Municipal Purposes Under/Over CAP (+/-) 33,179,248 32,354,550 824,698
NOTE:
Sheet 3b-1
MANDATORY MINIMUM BUDGET MESSAGE MUST INCLUDE THE FOLLOWING:
1. HOW THE 1977 "CAP" WAS CALCULATED. (Explain in words what the "CAPS" mean and show the figures.)
2. 2010"CAP" LEVY CAP WORKBOOK SUMMARY
3. A SUMMARY BY FUNCTION OF THE APPROPRIATIONS THAT ARE SPREAD AMONG MORE THAN ONE OFFICIAL LINE ITEM
(e.g. if Police S&W appears in the regular section and also under "Operations Excluded from "CAPS" section, combine the figures for purposes of citizen understanding.)
4. INFORMATION OR A SCHEDULE SHOWING THE AMOUNTS CONTRIBUTED FROM EMPLOYEES, THE EMPLOYER SHARE AND THE TOTAL COST HEALTH CARE COVERAGE (Refer to LFN 2011-4).