Township government · Ocean County, NJ

Lakewood Township's money: where it comes from and where it goes

In the latest recorded fiscal year (ended December 31, 2023), Lakewood Township took in $142 million and spent $114 million.

Latest recorded year: ended December 31, 2023Comes fromGoes to

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Where it comes from

Township taxes59%Federal tax money19%Fees for services (water, housing)10%State tax money6.2%Fines and other4.9%County and local tax money<0.1%

What stands out

19%

of Lakewood Township's money comes from federal tax money.Most U.S. townships and towns of 50,000+ people get none.

Township taxes59%

Property tax
56%$79.2 million
Other taxes
3.5%$5.0 million
What's in other taxesOther licenses; public utility taxes and 1 more
  • Other licenses$4.6 million
  • Public utility taxes$273 thousand
  • Alcoholic beverage licenses$91 thousand

Amounts are by Census tax category.

Fees for services10%

Fees for services
10%$14.9 million
What's in fees for servicesWater; housing and 1 more
  • Water$13.4 million
  • Housing$921 thousand
  • Other service charges$523 thousand

Amounts are by Census type of charge.

Federal tax money19%

Grants from Washington, paid for by the federal taxes residents also pay.

From the federal government
19%$27.2 million

State tax money6.2%

Money the state passes on, paid for by the state taxes residents also pay.

From the state
6.2%$8.8 million

County and local tax money<0.1%

Money passed on by the county or other local governments.

From the county and other local governments
<0.1%$75 thousand

Fines and other4.9%

Interest, rents and other
4.5%$6.4 million
Fines
0.4%$562 thousand

Where it goes

Police, fire, courts and jails29%Running the government and other costs23%Housing and community development19%Water, sewer, trash and utilities16%Roads, transit and parking10%All other spending3.7%

What stands out

19%

of Lakewood Township's spending goes to housing and community development.Most U.S. townships and towns of 50,000+ people spend nothing on this.

Spending by category100%

Police, fire, courts and jails
29%$32.5 million
What's in police, fire, courts and jailsPolice; inspections and regulation and 1 more
  • Police$29.3 million
  • Inspections and regulation$2.6 million
  • Courts and legal services$597 thousand
Running the government and other costs
23%$25.7 million
What's in running the government and other costsOther and not broken out; government buildings and 2 more
  • Other and not broken out$22.0 million
  • Government buildings$1.7 million
  • Central staff services (personnel, purchasing, technology)$1.5 million
  • Finance, tax collection and budgeting$488 thousand
Housing and community development
19%$21.8 million
Water, sewer, trash and utilities
16%$18.1 million
What's in water, sewer, trash and utilitiesWater supply; garbage and solid waste and 1 more
  • Water supply$12.8 million
  • Garbage and solid waste$5.1 million
  • Gas supply$107 thousand
Roads, transit and parking
10%$11.6 million
What's in roads, transit and parkingToll roads and bridges; roads and highways and 3 more
  • Toll roads and bridges$6.0 million
  • Roads and highways$4.6 million
  • Public transit$696 thousand
  • Parking$261 thousand
  • Airports$2 thousand
Interest on debt
1.7%$2.0 million
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$1.8 million
  • Interest on water supply debt$149 thousand
Parks, recreation and libraries
1.0%$1.2 million
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$1.2 million
Health and hospitals
0.6%$708 thousand
What's in health and hospitalsPublic health
  • Public health$708 thousand
Social services
0.2%$269 thousand
What's in social servicesOther public welfare
  • Other public welfare$269 thousand
Sent to other local governments
<0.1%$32 thousand
What's in sent to other local governmentsSent to local governments: other and not broken out
  • Sent to local governments: other and not broken out$32 thousand
Sources and moreWhere these numbers come from and what they cover

Lakewood Township. U.S. Census Bureau, 2024 Annual Survey of State and Local Government Finances, individual unit file, fiscal year ended December 31, 2023.

What this covers. The money of Lakewood Township itself. Other governments that serve the same area (the city, county, school district and state) are separate and not included. Borrowing, transfers between a government's own funds, and pension trust funds are not counted as revenue.