By KAYLA J. MARSH
Staff Writer
MATAWAN – The Borough Council has introduced an $11.45 million budget to fund the operation of Matawan during 2016.
“This budget reflects a zero percent increase on the municipal tax rate,” Mayor Joseph Altomonte said.
At a special meeting of the Borough Council held on May 31, Altomonte said the introduced budget of $11,447,876.28, is up $517,652.45 from last year’s total of $10,930,223.83.
The introduced budget also includes a tax levy of $8,478,149.40, which is up from the 2015 levy of $8,073,118.69.
For borough residents, the budget includes an estimated tax rate of $80.3 cents per $100 of assessed value, roughly the same rate as last year.
The owner of a home valued at the borough average of $300,000, would pay $8,148.87 in municipal taxes during 2016.
The municipal taxes an individual pays will be more or less than what is paid by the owner of a home assessed at the borough average depending on the assessed value of his home and/or property.
Municipal taxes are one part of a property owner’s annual tax bill. Other items include Monmouth County taxes, Matawan-Aberdeen Regional High School District taxes, library taxes and other assessments.
According to Altomonte, the introduced municipal budget is well below the state-mandated levy cap and remains in full conformance with the state levy cap law.
“It was quite exciting to pass a zero increase first year,” Altomonte said, reminding that he was only sworn into his first term as mayor in January.
“We looked at everything and really didn’t have to cut anything.”
According to Altomonte, the budget was expected to be introduced at the governing body’s May 17 meeting.
“The four Republican council members wanted to postpone it, because the $2 million in the surplus, they wanted it to be put in a capital expenditure account,” he said.
“My argument was that we’re not spending the money, it is just put into a surplus account rather than the capital expenditure account because that would kind of commit the money to fixing the dams and my argument was that we can get a better deal on the dams.
“We’ve already gotten two better deals since I’ve been in office and I think we can do even better, and I had pointed out that Allentown’s dam was paid for by [Monmouth] County … 100 percent except for a $270,000 grant that Allentown got from the sate that they handed over to the county and that’s all they’re reliable for, nothing else.
“When I brought the proof that we can get a better deal and that we don’t need to put that $2 million into a capital expenditure, we can keep it at surplus, they voted for it.”
A public hearing on the budget has been scheduled for June 28 at 7 p.m. at the Municipal Building at 201 Broad St.
During the public hearing, residents may comment on or ask questions about the budget and members of the governing body may vote to adopt the budget that evening or can defer it to a later date if they feel there are issues that still need to be looked at.
“I think in the past, the governing body has introduced the budget around this time but … I am hoping in the future we can do it even earlier,” Altomonte said.
