Ocean Adopts Municipal Budget With 4.7 Cent Tax Rate Increase
By DON STINE
Ocean Township taxpayers will see a 4.7-cent increase in the 2008 municipal tax rate under a budget adopted by the Township Council Monday night.
The average home assessed at $444,228 will see a tax increase of about $209.11 a year, said Township Administrator Andrew Brannen.
The total $30,203,654 budget, up from $28,541,368 last year, carries a tax levy, or the amount to be raised through taxation, of $16,458,153, up $2,176,483 from year.
The result will be a 4.7-cent tax increase for a total municipal tax rate of 35.5 cents for each $100 of assessed valuation, up from 30.8 cents last year.
The budget, which is within the state-imposed limit on increases, applies $7 million in surplus, leaving about $3.3 million in surplus.
The township lost almost $300,000 in state aid this year which accounts for about half a cent of the tax increase.
The township received $3,253,727 in state aid for this years budget, which will have a public hearing on May 5.
A $530,894 increase in pension costs accounts for about 1.1 cents of the increase and an increase of $730,046 in debt service accounts for 1.6 cents of the tax increase.
Regular cost of living increases account for about 1.3 cents of the tax increase.
Recent capital improvement projects included in the debt service include the new library, renovations at the municipal building and projects at the senior center.
Brannen said pension costs should level off in the future.
Its not a great picture now but the rate increase should slow as we go forward, he said.
Brannen said about 18 percent of a homeowners total tax bill is the municipal tax with the school tax accounting for 64 percent and the county tax for 16 percent.
He said possible cost-saving measure in the future may include workers contributing toward their health insurance premiums, sale of township-owner property, staff management and savings on an automated garbage collection system.
Residents turned out last year against an automated garbage collection system but Brannen said the cost savings will still be examined.
We may come back with a new version. I dont think its worth throwing out total at this time, he said.
Resident Larry Loigman said the council should seek more public input of the budget and reduce spending.
Just because state aid is reduced doesnt mean you take more money from taxpayers, he said.
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