Budget hearing set for June 13
BY KATHY BARATTA
Staff Writer

MANALAPAN - Following some last minute tweaking, a 2007 municipal budget totaling $29.6 million was introduced by the Township Committee on May 9. A public hearing and adoption of the spending plan is scheduled for the committee's June 13 meeting.

The total budget is up $772,000 from 2006, although the tax levy to support the spending plan has jumped from $11.9 million to $15.3 million.

Officials said the budget includes job eliminations and a restructuring of the recreation department that will be discussed at the June 13 public hearing.

The municipal tax rate - following a revaluation of all Manalapan property last year - has dropped from 47.4 cents to 24.8 cents per $100 of assessed valuation. However, that does not necessarily mean property owners will pay less in taxes.

According to figures provided by Mayor Andrew Lucas, in 2006 the average home in Manalapan was assessed at $178,500 and generated $846 in municipal taxes.

Following the revaluation, the average home in Manalapan is now assessed at $429,603 and will generate an estimated $1,065 in municipal taxes, representing an increase of $219 to the owner of a home who saw his home's assessed value increase as noted.

The tax impact will be different depending on the old and new assessments of all property owners.

Township officials said the use of surplus (savings) funds over the past five years and a drop in construction revenues in 2006 helped lead to this year's tax increase.

Municipal taxes are one part of the overall property tax bill, which also includes Manalapan-Englishtown Regional School District taxes, Freehold Regional High School District taxes, Monmouth County taxes and several other assessments.