FREEHOLD TOWNSHIP – The Township Committee has adopted a $40.4 million budget to fund the operation of Freehold Township this year. The budget was adopted by committee members following a public hearing on April 24.
The budget will be supported by the collection of $21.5 million in taxes from Freehold Township’s residential and commercial property owners. Other revenue includes $7.4 million in state aid and $6.5 million from surplus funds (savings).
Freehold Township’s 2017 budget totaled $39.5 million and was supported by the collection of $21.3 million in taxes from property owners. Other revenue included $7.4 million in state aid and $5.8 million from surplus funds.
The municipal tax rate in 2017 was 34.6 cents per $100 of assessed valuation. The average home was assessed at $388,672 and the owner of that home paid $1,344 in municipal taxes last year.
In 2018, the municipal tax rate is projected to be 33.9 cents per $100 of assessed valuation and the average home assessment is estimated at $402,344. The owner of that home will pay $1,363 in municipal taxes, an increase of $19.
The owner of a home that was assessed at $235,000 in 2017 paid $813 in municipal taxes. If that home is still assessed at $235,000, the 2018 municipal taxes will be $797, a decrease of $16.
The owner of a home that was assessed at $450,000 in 2017 paid $1,557 in municipal taxes. If that home is still assessed at $450,000, the 2018 municipal taxes will be $1,525, a decrease of $32.
Municipal taxes are one component of a property owner’s tax bill, which also includes Freehold Township K-8 School District taxes, Freehold Regional High School District taxes, Monmouth County taxes, a fire district tax and other assessments. Individuals pay more or less in taxes depending on the assessed value of their home and/or property.
The municipal budget contains the following appropriations: public safety (includes police department), $9.7 million; insurance, $6.8 million; debt, $4.7 million; statutory expenditures, $3.9 million; public works, $3.8 million; general government, $2.9 million; reserve for uncollected taxes, $1.9 million; utilities and bulk purchases, $1.3 million; shared services, $972,160; and education (including library), $953,644.
Freehold Township has 201 full-time employees, which includes 69 police officers, and 68 part-time employees. Personnel costs will account for $23.8 million (approximately 59 percent) of the 2018 budget.
“With the adopted 2018 budget, Freehold Township has put together a plan that limits the impact on taxpayers, and keeps our residents over $1 million below the New Jersey state tax levy cap,” Mayor Anthony Ammiano said. “Our commitment to providing a high level of services, while consistently refining the way we provide them, makes this possible.
“In addition, new shared services with other towns are added every year, providing additional cost offsets to for our residents,” he said. “We have also approved an aggressive infrastructure plan in our capital budget that will deliver on our promise to invest in our roads, bridges and intersections.
“We have one basic goal, which is to act as a team to provide a high level of service while keeping taxes in check. I would be remiss if I did not mention our chief financial officer, Catherine Campbell, and our township administrator, Pete Valesi, who did a phenomenal job putting this year’s budget together,” Ammiano said.