Brick 2017 Budget To Fall $4.45 Million, Lower Tax Rate A Half Cent: Mayor

BRICK, NJ — Brick Township taxpayers should see an half-cent decrease in the township's portion of their property tax bill for 2017 under a proposed budget that is more than $4.45 million less than the 2016 budget, Mayor John G. Ducey said Tuesday.

In remarks at the Township Council meeting Tuesday evening, Ducey said the propsed budget is $100,337,745. That number is $4,451,617 less than the 2016 budget. That number includes another decrease in the township's debt service, he said, and translates to a decrease of slightly less than $15 for the average home in the township.

Ducey stressed the 2017 budget reflects "four years of strong fiscal management and responsible fiscal policies."

“We have created a culture of fiscal responsibility in town hall that has enabled us to slow the growth of municipal spending, reduce the township’s debt, stabilize the tax rate, rebuild the township’s surplus and make the financial health of Brick Township stronger than it has been in many years,” Ducey said, reiterating the message he has delivered his entire term, that he would cut spending and the township's debt while taking care of the township's needs.

Ducey said that the proposed 2017 represents a 1.9 percent increase over the the township's 2013 budget. He said the municipal budget increased 28 percent from 2010 to 2013; 19 percent from 2006-2009, 27 percent from 2002–2005 and 24 percent from 1998-2001. The average four-year increase from 1990-2013 was 21.8 percent.

The municipal tax would be 68.5 cents per $100 of assessed value under the plan, Ducey said. It would result in a reduction of $14.71 in municipal taxes for a home with an average assessment of $294,100, he said.

Superstorm Sandy continues to impact the township’s budget, with $1,484,000 in special emergency principal pay off for Sandy, equal to 1.44 cents on the tax rate, the township’s final payment for this cost, Ducey said.

In 2016, $18.66 million was returned to the township's ratable base, a figure that is still $341.7 million less than pre-Sandy levels, he said.

The 2017 budget includes $13,493,521 in debt service payments, Ducey said. The township's net debt continues to decrease, down to $151,310,134 at the beginning of 2017 from $168,335,337 at the beginning of 2014. Ducey said that figure is expected to drop to $150 million at the end of 2017, a decrease of more than $18 million.

“One of my top fiscal priorities was to reduce the township’s debt," Ducey said. "We knew that reducing the township’s debt was necessary if we wanted to restore Brick Township’s fiscal health."

Ducey said the debt reduction occurred despite the township renovating parks and addressing infrastructure needs.

The current revenue plan utilizes $10,928,024 from surplus and leaves the township with a surplus balance of $10,955,587, the highest amount since at least 1993, he said.

“Having a healthy surplus available is a sign of fiscal responsibility and strength,” Ducey said. “There were several years where the township had less than $100,000 remaining in surplus, which put us in a very precarious position financially speaking. I am proud that we have been able to correct this.”

The formal budget introduction is scheduled for March 21.

Photo by Karen Wall