MILLSTONE — The Township Committee has introduced a $6.21 million budget to fund the operation of Millstone Township in 2015.
The budget was introduced on May 20 and will be the subject of a public hearing at 8 p.m. June 17 in the municipal meeting room at 215 Millstone Road. Residents may comment on or ask questions about the budget at that time.
The committee may vote to adopt the budget following the public hearing.
The 2015 budget will be supported in part by the collection of $2.59 million in a local tax levy from the owners of Millstone’s residential and commercial properties. Officials will use $832,663 from surplus funds (savings) as revenue in the budget. The township is receiving $841,753 in state aid in 2015, which is the same amount the township received in 2014.
Millstone’s 2014 municipal budget totaled $6.18 million and was supported in part by the same $2.59 million local tax levy. Officials used $785,876 from surplus funds as revenue in the 2014 budget.
Mayor Robert Kinsey said the 2015 budget continues to hold the municipal tax levy stable and has no increase for the fourth consecutive year.
“Our surplus remains consistent with prior years and our overall outstanding debt continues to be reduced,” the mayor said.
At the same time, Kinsey said, officials are again putting forth a capital expenditure program to address roads and other infrastructure needs.
“While other towns continue to struggle with tax increases and budgetary woes, we continue to provide the services residents require and need without unnecessary tax increases,” he said. “This does not happen by accident. It requires constant financial and operational management analysis and vetting of expenditures to make sure prudent and proper decisions are made.”
Kinsey said he believes Millstone is in a position to handle any emergency situation that may arise.
Committeeman Gary Dorfman said the budget will allow the committee to plan and to meet its obligations.
The municipal tax rate has decreased from 16.5 cents per $100 of assessed valuation in 2014 to 15 cents per $100 of assessed valuation in 2015.
In 2014, the average home assessment in Millstone was $450,353. With a tax rate of 16.5 cents, the owner of that home paid $743 in municipal taxes.
In 2015, the average home assessment in Millstone is $496,682. With a tax rate of 15 cents, the owner of that home will pay $745 in municipal taxes.
The decrease in the municipal tax rate will have a different impact on each property owner depending on the assessed value of his home and/or property.
Municipal taxes are one component of a property owner’s total tax bill. Property owners also pay Millstone Township K-8 School District taxes, Monmouth County taxes and other assessments.
The budget pays for professionals such as attorneys and engineers, the Department of Public Works and the administration of the municipality. Millstone Township does not have a police department and receives police services from the New Jersey State Police.
Officials said there are two new sources of revenue to help keep the tax levy flat.
The first new revenue stream is a $450,000 one-time fee for a newly available liquor license. The licensee will pay a fee of $2,500 annually.
The second new revenue stream is from a telecommunications tower lease that will bring in more than $3,000 per month for the next 20 years beginning on July 1.
Chief Financial Officer Annette Murphy said the number of in-house municipal employees has remained stable since 2014. There are currently 21 full-time employees and seven part-time employees in Millstone.