By DON STINE
Voters defeated a Neptune referendum on Nov. 4 that would have dedicated one cent from the municipal tax rate to preserve open space in the township.
The nonbinding referendum was defeated by 4,622 votes to 3,324 votes.
“I was disappointed that it did not pass because I thought is would provide a stable revenue source for purchasing open space and making improvements to recreation,” said Committeeman James Manning Jr., who supported the measure.
Manning said that based on the current economic situation and taxpayer sentiment it is not a surprise the referendum was defeated.
“I can understand why residents voted it down,” he said.
Manning said there are no plans for the special tax to be brought up again in the near future.
“We will comply with the wishes of the voters,” he said.
The open-space tax would have been one cent for each $100 of assessed valuation, which would raise about $300,000 based on the 2008 tax rate.
A home owner with a $240,900 assessment (the township’s average) would have paid an additional tax of about $24.09 a year. Money from the special tax would have been held in a special dedicated-account with the money and related interest used for open space acquisition or improvements. Other municipalities in Monmouth County have similar taxes.
The open space tax would initially have had a 15-year life span.
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