Readington Implements Tax Freeze and Spending Reductions for 2023

Over the past few months, the Township Committee held three township public meetings from February to April 2023 to discuss and analyze the budget. Initially introduced at $23,842,037, it would have led to a tax rate increase of 1.82 cents, equivalent to approximately $85 per year for the average $450,000 house.

During the Budget Hearing and Adoption, the Township Committee members voiced their concerns and requested further reductions in the budget. As a result, although the hearing concluded, the budget was not approved, leading to organize a fourth meeting.

On May 11th, the Township Committee engaged in extensive discussions and conducted a detailed line-by-line review of the budget. The outcome was significant. All operating departments, except for public safety agencies and public works, had their 2023 operating budgets reduced to 5% less than their respective 2022 spending.

On May 15th, the budget underwent another amendment. With an additional reduction of almost $500,000, we managed to cut a total of $1,148,047 from the 2022 Adopted budget.

On June 5th the Budget was adopted and stands at $23,237,426, and—it does not call for an increase in the municipal tax rate this year.

This budget reflects our commitment to responsible financial management and ensuring that the financial burden on our residents remains stable.