Council approves 7 percent budget increase, 9.18 percent tax rate hike
Randolph approves 7 percent budget increase with 9.18 percent tax rate hike. The Township Council unanimously adopted a 2026 municipal budget of $40,325,942, driven primarily by health insurance costs of $1,416,723 and contractual obligations. The municipal tax rate rises from $0.498 to $0.544 per
Township Council · Meeting of February 5, 2026
NJ RANDOLPH — Randolph approves 7 percent budget increase with 9.18 percent tax rate hike. The Township Council unanimously adopted a 2026 municipal budget of $40,325,942, driven primarily by health insurance costs of $1,416,723 and contractual obligations. The municipal tax rate rises from $0.498 to $0.544 per $100 of assessed valuation, an increase that amounts to $232.50 annually for the average home, marking the second consecutive year of substantial tax rate adjustments.
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Source: the Township Council meeting of February 5, 2026, compiled from the official minutes.
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