POINT PLEASANT BEACH – Residents could be facing a walloping on their property tax bills as borough officials are predicting a nearly 5% jump in the municipal property tax rate from the previous year.
Councilman William Mayer announced the “unpleasant” news at the last meeting of the borough’s council.
The Ocean Star reported that Mayer projects a tax increase of 1.9 cents per $100 of assessed value, with Mayer stating that this would amount to a 4.8 % increase of the municipal tax rate.
Rising employee health insurance and pension costs are major costs that are driving the proposed budget increases. The borough of just under 5,000 year-round residents hired additional full-time municipal employees in 2013.
Councilman Mayer said he found the increases “alarming,” with resident Marilyn Burke agreeing during the public comment portion of the meeting.
“Yes, I think everyone in town is going to find it alarming.” she added.
Borough officials will hold a budget workshop meeting on Tuesday afternoon at 6:30 PM to begin working on 2016’s budget, and presumably begin looking for areas to cut..
“I ask that you all take a look at the capital budget and make a decision with your department heads with what is necessary,” Mayer added, according to the report.
Officials intend to introduce a budget at the first council meeting in April.