The Ocean County Board of Freeholders has scheduled a public hearing for April 4 at the county administration building in Toms River, at which time members of the public may comment on the county’s proposed 2018 budget. The freeholders are expected to adopt the budget following the public hearing.
“This board is following through on our commitment to lower the county property tax rate as we recover from the losses of the Great Recession and superstorm Sandy,” Freeholder Deputy Director John C. Bartlett Jr. said. “Last year we decreased the tax rate by one-tenth of a cent and this year we will decrease it by a half-cent to 34.7 cents per $100 of equalized value.”
The freeholders have introduced a $416.09 million spending package for 2018. The budget is up $8.1 million from 2017 and the amount to be raised by taxation is $346.49 million, up 1.29 percent.
Freeholder Director Gerry P. Little said, “This is a fiscally responsible budget. It is fiscally prudent. It will allow us to maintain our AAA bond rating, fund our programs and
services, and allow us to invest in our infrastructure.”
Bartlett said the county’s surplus in 2018 is $55.4 million. The proposed budget
includes about $22 million from surplus as revenue in the spending plan.
“In order to maintain our AAA bond rating, it is imperative we keep a surplus
balance that is equal to about 10 percent of the budget,” Bartlett said. “Having the highest bond rating possible helps us tremendously when we need to bond for capital projects.”
Freeholder Joseph H. Vicari said the board was continuing its commitment to the almost 170,000 seniors living in the county by funding key programs like the senior nutrition program and home delivered meals. He noted the board is also continuing its commitment to higher education by appropriating funds to the county vocational technical schools and Ocean County College.
