By Matthew Sockol
FREEHOLD – The Borough Council has introduced a $15.68 million budget to fund the operation of the borough this year.
A public hearing on the budget has been scheduled for 7 p.m. May 2 at Borough Hall. Residents may comment on or ask questions about the budget at that time. The council may adopt the budget that evening.
This year’s $15.68 million budget will be supported by the collection of $10 million in taxes from Freehold Borough’s residential and commercial property owners. Other revenues include the use of $1.43 million in surplus funds (savings) and $1.25 million in state aid.
Freehold Borough’s 2015 budget totaled $15.6 million and was supported through the collection of $9.71 million in property taxes, $1.36 million in surplus funds and $1.25 million in state aid. The municipal tax rate was 94.4 cents per $100 of assessed valuation, the average home assessment was $250,499 and the owner of that home paid $2,364 in municipal taxes.
In 2016, the municipal tax rate is projected to be 97.6 cents per $100 of assessed valuation and the average home assessment is $247,410. The owner of that home will pay $2,415 in municipal taxes.
An individual will pay more or less in municipal taxes based on the assessment of his property and/or home.
The budget includes the following selected appropriations:
- Public safety (includes police department), $4.2 million
- Insurance, $2.2 million
- Municipal debt service, $1.5 million
- Public works, $1.5 million
- Statutory expenditures, $1.3 million
- Municipal general government, $871,850
- Reserve for uncollected taxes, $809,820
- Landfill and solid waste disposal, $582,020
- Utilities and bulk purchases, $489,500
In addition to municipal taxes, a property owner’s tax bill also includes Freehold Borough K-8 School District taxes, Freehold Regional High School District taxes, Monmouth County taxes and other assessments.
Freehold Borough has 69 full-time employees, which includes 27 police officers, and 54 part-time employees. Personnel costs account for $10.5 million of the borough’s $15.7 million budget for 2016.