HOLMDEL, NJ -

The Holmdel Township Township Committee unanimously  approved the 2017 Calendar Year Budget during the May 23rd Township Committee Meeting. The Holmdel Township Committee, during the March 28, 2017 meeting, introduced a budget with a zero net tax increase. There was planned in the budget a new $2,000,000.00 debt instrument in the form of a bond to pay for infrastructure improvements.  The use of surplus is also utilized to stabilize budgets from year to year. That said, several significant revenue reductions pose a particular challenge the Township, including:

  • Local revenue down 9.82%
  • Uniform Construction Code Fees down 31.47%
  • Public and Private revenue down 85.71%
  • Receipts from delinquent taxes down 13.18%

Other points of interest from the Introduced budget include:

  • Municipal Purpose Tax of $14,527,232.10
  • Municipal Open Space Tax of $1,033,815.00
  • Estimated School District Tax of $56,000,000
  • Estimated County Purposes Tax of $11,300,000
  • Estimated County Library tax of $800,000
  • Estimated County Board of Health Tax of $250,000
  • Estimated County Open Space Tax of $650,000