Tax Increase Proposed In Basking Ridge's $45.8M Municipal Budget

BASKING RIDGE, NJ — Despite some "extremely challenging circumstances," the Bernards Township Committee said they were able to introduce a $45.8 million municipal budget with a 1.99 percent tax increase for residents.

However, the increase is much lower than it could have been according to Committee Members, who warned they may not be able to continue to keep the increase below 2 percent in the future.

Committeeman James Baldassare Jr. pointed to "continued supply chain problems and rampant inflationary pressures" as some of the reasons it made this budget year especially difficult.

"It was very difficult for us this year with those factors in mind. Looking ahead it will be very difficult to have a below 2 percent increase. Many municipalities had a difficult time this year with their budgets and they chose to increase their taxes to residents but we fought hard and worked together to get it below the 2 percent which is significant," said Committeewoman Janice Fields at the Tuesday night meeting.

Bernards Township Chief Financial Officer Sean McCarthy introduced this year's $45,825,215 municipal budget on March 28, which includes a 1.99 percent municipal services tax levy increase over 2022.

"Aside from pretty significant budget crushers this year, I am happy to report we will fund and continue to fund all township services," said McCarthy.

This year the municipal tax rate went down to 0.283 or 5.5 percent from last year's .299, which was attributed mostly to an increase in the overall assessed value of homes, said McCarthy.

The average assessed value of homes in Bernards Township jumped from $663,991 in 2022 to $720,498.49.

An average home assessed in Bernards Township at $720,498.49 will pay an increase of $48.92 per year for the municipal services portion of the tax bill under the proposed budget, said McCarthy.

McCarthy pointed to a number of challenges in the budget including employee health benefits premiums, which saw a 24.66 percent one-year increase or $425,067.

"For some reference, the township's total tax levy for this year is $428,000 so essentially all of that increase is attributed to that one line item," said McCarthy of the health benefits.

Other factors include a "significant increase" to pensions of 6.73 percent for employees and 10.81 percent for police and fire.

The township also saw a reduction in state aid of $81,376 over 2022.

Included in the budget is roughly $7.2 million in capital projects including $1.8 million for the elevator project at the municipal building to conform with the Americans with Disabilities Act (ADA). Read More: Elevator Addition For Bernards Municipal Building In The Works

"In keeping in the commitments I and my colleagues have made to residents, I am pleased to report that our tax levy will remain low, our services will remain high, and we will incur 0 debt," said Mayor Andrew McNally. "Delivering a budget in these times is an extraordinary effort not just here on the dais but with staff members."

A public hearing will be held on Tuesday, April 25 before the township committee adopts the 2023 budget. See the full budget presentation below (it begins around 17:10:00):

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