Brick Township officials will hold a hearing on the town’s 2017 municipal operating budget at a council meeting Tuesday, at which the spending plan – which cuts taxes slightly – is expected to be adopted.
Mayor John Ducey said the township’s $100,337,745 spending plan for 2017 cuts spending by $4,451,617 compared to 2016 and calls for a reduction of one-half cent on the municipal tax rate. For a resident of Brick with a home valued $294,100, the township’s average, their property tax bill would be reduced by $14.71.
The tax rate for 2017, under the proposed budget, would be 68.5 cents per $100 of assessed value. This represents only the municipal tax rate – school taxes are controlled by the Board of Education and county taxes by the Board of Chosen Freeholders. The school district has proposed a tax increase.
Ducey, when the budget was first introduced, credited debt reduction and fiscal belt-tightening for the reduction, as well as reduced spending on Superstorm Sandy recovery efforts. To that end, Brick will still have to appropriate $1,484,000 to continue to pay back Sandy recovery debt, equal to 1.44 cents on the tax rate. The good news, officials said, is that this is the township’s final payment for the cost.
The 2017 budget utilizes $10,928,024 from the township’s surplus account toward its operating budget. Ducey said that level of utilization leaves the township with a surplus balance of $10,955,587, the highest dollar amount since at least 1993. The balance represents 10.92% of the budget, the highest amount since 1994.
The meeting begins at 7 p.m. at the township’s municipal complex on Chambers Bridge Road.