City government · Union County, NJ

Summit's money: where it comes from and where it goes

In the latest recorded fiscal year (ended December 31, 2023), Summit took in $105 million and spent $153 million.

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

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Where it comes from

City taxes71%Fees for services (sewer, parking)15%State tax money8.6%Fines and other3.7%Federal tax money0.9%County and local tax money0.3%

What stands out

70%

of Summit's money comes from property tax.A typical U.S. city of 10,000 to 50,000 people gets 19%.

City taxes71%

Property tax
70%$74.3 million
Other taxes
0.6%$618 thousand
What's in other taxesPublic utility taxes; other selective sales taxes and 2 more
  • Public utility taxes$432 thousand
  • Other selective sales taxes$83 thousand
  • Other licenses$62 thousand
  • Alcoholic beverage licenses$41 thousand

Amounts are by Census tax category.

Fees for services15%

Fees for services
15%$16.3 million
What's in fees for servicesSewer; parking and 7 more
  • Sewer$6.6 million
  • Parking$2.9 million
  • Housing$2.0 million
  • School lunches$1.8 million
  • Other service charges$1.1 million
  • Parks and recreation$860 thousand
  • Other school charges$837 thousand
  • School tuition and transportation$75 thousand
  • Garbage collection$39 thousand

Amounts are by Census type of charge.

Federal tax money0.9%

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

From the federal government
0.9%$962 thousand

State tax money8.6%

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

From the state
8.6%$9.1 million

County and local tax money0.3%

Money passed on by the county or other local governments.

From the county and other local governments
0.3%$343 thousand

Fines and other3.7%

Interest, rents and other
2.4%$2.5 million
Fines
1.3%$1.4 million

Where it goes

Schools and colleges73%Police, fire, courts and jails8.4%Running the government and other costs6.4%Water, sewer, trash and utilities4.4%Roads, transit and parking2.1%All other spending5.2%

What stands out

73%

of Summit's spending goes to schools and colleges.Most U.S. cities of 10,000 to 50,000 people spend nothing on this.

Spending by category100%

Schools and colleges
73%$112 million
What's in schools and collegesElementary and secondary schools
  • Elementary and secondary schools$112 million
Police, fire, courts and jails
8.4%$12.9 million
What's in police, fire, courts and jailsPolice; fire protection and 2 more
  • Police$7.1 million
  • Fire protection$5.0 million
  • Courts and legal services$597 thousand
  • Inspections and regulation$228 thousand
Running the government and other costs
6.4%$9.8 million
What's in running the government and other costsOther and not broken out; government buildings and 2 more
  • Other and not broken out$5.9 million
  • Government buildings$1.5 million
  • Finance, tax collection and budgeting$1.3 million
  • Central staff services (personnel, purchasing, technology)$1.1 million
Water, sewer, trash and utilities
4.4%$6.7 million
What's in water, sewer, trash and utilitiesSewer systems and garbage and solid waste
  • Sewer systems$3.6 million
  • Garbage and solid waste$3.2 million
Roads, transit and parking
2.1%$3.2 million
What's in roads, transit and parkingParking and roads and highways
  • Parking$1.8 million
  • Roads and highways$1.5 million
Sent to other local governments
1.5%$2.3 million
What's in sent to other local governmentsSent to local governments: other and not broken out and sent to the state government
  • Sent to local governments: other and not broken out$2.1 million
  • Sent to the state government$117 thousand
Housing and community development
1.4%$2.1 million
Interest on debt
1.1%$1.6 million
Parks, recreation and libraries
1.0%$1.5 million
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$1.5 million
Health and hospitals
0.3%$468 thousand
What's in health and hospitalsPublic health
  • Public health$468 thousand
Social services
<0.1%$37 thousand
What's in social servicesOther public welfare
  • Other public welfare$37 thousand
Sources and moreWhere these numbers come from and what they cover

City of Summit. 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 City of Summit 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.