By Matthew Sockol
Staff Writer
FREEHOLD – The Borough Council has introduced a $16.4 million budget for 2017 and scheduled a public hearing for 7 p.m. May 1 at Borough Hall.
Freehold Borough residents may comment on or ask questions about the budget at that time. The council may adopt the budget that evening.
“I am pleased that our professional staff, along with comment and input from the finance committee and the governing body, were able to construct an operations budget that both satisfies our requirement with the state while maintaining our level of municipal service,” Mayor Nolan Higgins said.
This year’s $16.4 million budget will be supported by the collection of $10.2 million in taxes from the borough’s residential and commercial property owners. Other revenues include the use of $1.43 million from surplus funds (savings) and the receipt of $1.25 million in state aid.
Freehold Borough’s 2016 budget totaled $15.68 million and was supported through the collection of $9.7 million in property taxes, $1.43 million from surplus 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 $247,410 and the owner of that home paid $2,335 in municipal taxes.
In 2017, the municipal tax rate is projected to be 97.3 cents and the average home assessment is $252,447. The owner of that home will pay $2,456 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), $4.3 million; insurance, $2.3 million; public works, $1.5 million; municipal debt service, $1.5 million; statutory expenditures, $1.3 million; municipal general government, $1 million; reserve for uncollected taxes, $909,872; landfill and solid waste disposal, $586,845;and 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 70 full-time employees, which includes 28 police officers, and 47 part-time employees. Personnel costs account for $10.3 million of the borough’s $16.4 million budget for 2017.
