By Matthew Sockol
Staff Writer
FREEHOLD – The Borough Council has adopted a $16.4 million budget for 2017 that will include a $72 increase in municipal taxes for a resident who owns a home that is assessed at $250,000.
The budget will be supported by the collection of $10.2 million in taxes from Freehold 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.
“We are pleased to adopt this year’s budget which provides for the borough’s necessary municipal services,” Mayor Nolan Higgins said. “Our administrator, finance officer, finance committee and council members work tirelessly to provide services amid a dwindling pool of resources from the state. We continue to work within the state regulatory appropriations and levy caps.”
Freehold Borough’s 2016 budget totaled $15.68 million and was supported through the collection of $9.7 million in property taxes. The municipal tax rate was 94.4 cents per $100 of assessed valuation and the owner of a home assessed at $250,000 paid $2,360 in municipal taxes.
In 2017, the municipal tax rate is projected to be 97.3 cents per $100. The owner of a home assessed at $250,000 can expect to pay $2,432 in municipal taxes – an increase of $72.
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 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.
