By WILLIAM CLARK
Neptune introduced its municipal budget this week which features a slightly reduced tax rate.
Mayor Tassie York read a statement detailing the tax rate and its effect on the bills that residents will see going forward.
The tax rate will decrease from 58.6 cents per $100 of assessed valuation to 52.5 cents. With an increase in assessed value of homes, however, homeowners may not see a decrease in what they owe.
“We recognize that under the annual assessment program, a good number of homes have seen sufficient increases in excess value as a result of changes in the housing market and new construction,” York said.
York qualified the budgetary news with the fact that property taxes in the township are just part of the d overall equation.
“The balance being paid to the school, county, fire districts and the library,” York said.
She said although the township has no input regarding the school budget, she felt compelled to speak out against the funding formula that state uses which had led to drastic cuts over the past few years.
“I felt obligated to speak out regarding our concerns about the state school funding. formula that has stripped Neptune taxpayers for more than $20 million over the past few years, including another $4 million lost this year,” she said. “We are all concerned about the short term and long term impact on our taxpayers and students. While I’m sure that the elected members of the Board of Education are doing everything within their power to address this problem, I would like to add our voices to support for a better plan and to offer our cooperation and assistance of the township and pursuing such a plan.”
York lauded the services that the township provides in regards to the tax revenue it raises, pointing to parks, public works and other elements of township administration. York also said that the coming year will see the township’s first stream of revenue from cannabis sales. Although she did not specify the amount, the influx of the township’s cannabis business and its 2 percent taxation on each transaction could lead to a significant windfall.
The committee also finalized the nuisance ordinance, the next step in the battle against issues regarding short term rentals within the township. Township Attorney Gene Anthony said that the process to adopt an amended ordinance regarding the short term rental properties within the township could be expected next meeting.
When questioned, Anthony said that potential additions include a residency requirement for those who rent out properties and a potential “Animal House” clause that would require properties with recurring disturbance issues to secure a bond that could be forfeited in the event of additional violations.