Freehold Township Budget Down $386K, Tax Rate up 2.4 Cents

The $37,881,334 Freehold Township municipal budget for 2011 is $386,991 less than 2010’s but will result in a 2.4-cent increase on the tax rate because of a decrease in assessed value in the township, Township Administrator Peter Valesi said.

The municipality lost $58 million in assessed value in the past year, much of it in commercial property, according to Valesi.  Other cost increases included an additional $471,000 in pensions; $592,000 insurance costs; $130,000 in utilities and fuel; and $140,000 in unemployment payments.

While this spending plan does not call for aggressive staff cuts as last year’s budget did, it does eliminate one position: Planning Board secretary. The Zoning Board of Adjustment secretary position will be combined with that of the Planning Board secretary for an estimated $85,000 savings in salary and benefits, Valesi said.

The township saw additional savings in wages from recreation, engineering, the police department, and the Streets & Roads Division of Freehold Township Public Works.

“It’s a culmination of years of allowing people to retire,” said Valesi, whose former assistant township administrator position was left vacated when was promoted to administrator following Thomas Antus’ retirement.

The tax levy to support the budget will increase from $15.55 million to $16.89 million in 2011, and the tax rate will rise from 25 to 27.4 cents. The owner of a home assessed at the Freehold Township average of $407,162 will see a $98 increase in their municipal taxes.

The Township Committee introduced the spending plan at its regular meeting on Tuesday, April 26. A public hearing on the budget will be held Tuesday, May 24 at 8 p.m. at Town Hall.