By Peter Elacqua
Staff Writer
COLTS NECK – The Township Committee has introduced a 2017 budget totaling $12.23 million that will be supported in part by the collection of $7.5 million in taxes from Colts Neck’s residential and commercial property owners.
Officials will use $1.28 million from surplus funds (savings) as revenue in the budget. State aid will remain flat at $1.98 million.
A public hearing on the budget will take place on April 26. Residents may comment on or ask questions about the budget at that time and the committee may adopt the budget following the public hearing.
Colts Neck’s 2016 budget totaled $11.75 million and was supported by a tax levy of $7.21 million. The municipal tax rate was 24.1 cents per $100 of assessed valuation and the average assessed value of a home was $842,897. The owner of that home paid $2,031 in municipal taxes.
The 2017 tax rate is projected to be 25 cents per $100 of assessed valuation and the average assessed value of a home is now $843,743, Tax Assessor William Laird said. The owner of that home will pay $2,109 in municipal taxes this year – an increase of $78.
Municipal taxes are one component of a property owner’s tax bill, which also includes Colts Neck K-8 School District taxes, Freehold Regional High School District taxes, Monmouth County taxes and other assessments.
Mayor Russell Macnow said the 2017 budget is under the tax levy cap and the appropriations cap. He said a majority of the operating budget has remained the same from 2016.
One significant expense for 2017 will be legal services related to affordable housing litigation. Officials highlighted buildings and grounds repairs that will “address some long overdue repairs and upgrades, mainly to HVAC systems and drainage system repairs at town hall.”
Macnow said equipment in the Department of Public Works needs to be repaired.
“While we are not purchasing new vehicles or equipment this year, we are investing in strategic repairs and maintenance of the vehicles and equipment we do have,” he said.
The budget for the fire department has increased by 10 percent from 2016 after remaining flat since 2013. The increase is the result of a jump in general operating expenses and maintenance costs for aging fire trucks, according to municipal officials.
Funding has been set aside to hire a new police officer and employee health insurance costs have increased by approximately 6 percent.
Recycling services costs have increased from $65,400 to $97,000, and recycling grants have decreased from $37,798 to $24,862, Township Administrator Kathleen Capristo said.
Officials said $243,300 was budgeted for capital programs that include the replacement of police vehicles, upgrades to police technology systems, fire department improvements, courtroom improvements, roof repairs, computer upgrades for all departments and funding to purchase dashboard cameras for police vehicles.
