By Kenny Walter
Staff Writer
OCEANPORT- The Borough Council has unanimously approved the 2016 budget with an increase that falls below the state imposed 2 percent cap on tax levy increases.
“We are under the cap, and that’s important, we stayed under both the state cap and our own 2 percent Oceanport cap,” Councilman Joseph Irace said. “We kept that commitment to keep it under the 2 percent and not use the exceptions the state allows us.”
The $8 million budget includes a $5.6 million tax levy, a 1.89 percent increase over last year’s $5.4 million levy. The borough will also receive $542,848 in state aid, which is the same amount that the borough has received in recent years.
According to Irace, the borough’s surplus will rise to $503,000 and the tax rate will increase 1-cent per $100 of assessed valuation.
The 53.9-cent tax rate will result in an increase a $44 increase on the average homeowners tax bill, bringing the municipal tax bill to $2,371.60.
Irace said the borough is able to keep taxes low by contemplating future budget when drafting each yearly budget.
“We are not just looking at this year,” he said. “The outlining years are what we keep track of, OK we are going to be up 2 percent this year, but we want to make sure we are not going to be up 7 percent next year.
“We are trying to smooth out different things. I think it is a prudent budget, I think it is fiscally conservative budget, which is something we’ve stressed for nine or 10 years.”
Some of the larger revenues anticipated in the budget include $543,000 in energy tax receipts, $150,000 in uniform construction code fees and $70,000 in municipal court fees in a shared service agreement with Sea Bright.
Some of the larger appropriations include $1.5 million in police salaries and wages, $167,000 for garbage and trash removal and $830,000 in employee group health insurance costs.
