$28M Municipal Budget Adopted In Holmdel

HOLMDEL, NJ — Members of the Township Committee adopted the 2022 municipal budget during the March 22 committee meeting.

The budget totals $28.57 million and will be supported by the collection of $14.83 million in property taxes from the residents and businesses of Holmdel.

“In this budget we were able to make enhancements to the Township overall, and in particular to the Swim Club, the Department of Public Works, and to public safety,” said Holmdel Mayor Greg Buontempo.

“Doing all this and keeping the tax rate flat is an amazing accomplishment, while still maintaining the highest level of programs and services for our residents,” Buontempo said.

The municipal tax rate is expected to fall to 30.6 cents per $100 of assessed valuation in 2022. The preliminary average home assessment for 2022 is $779,000, resulting in a $2,384 municipal tax payment.

Municipal taxes are one part of a property owner's tax bill, which also includes school district and county taxes. The entire amount of taxes paid is influenced by the assessed value of an individual's home and/or property, as well as the tax rate imposed by each taxing body.

The budget, according to Deputy Mayor Prakash Santhana, allocates funds for renovations to Holmdel roads, the Swim Club, among other items that have been neglected for years.

The adopted 2022 municipal budget is available to view and download on the township website.