No Municipal Tax Increase In Hazlet Budget For 2025

HAZLET, NJ — The Hazlet Township Committee unanimously adopted a $24.7 million spending plan for 2025 at a recent committee meeting.

The budget, which was first introduced in April and adopted in late May, calls for no increase in the municipal tax levy for the average town homeowner for the third year in a row, township officials said.

Mayor Michael Sachs called the budget a “remarkable accomplishment for the taxpayers of Hazlet.”

“While other portions of the total property tax bill outside of our control are going up, the portion that the Township Committee oversees does not increase taxes for the average homeowner,” Sachs said. “We will continue to work on behalf of the taxpayers to do our part in keeping Hazlet affordable, while continuing to invest in new projects and recreation upgrades.”

For 2025, the amount to be raised from taxation from Hazlet’s residential and commercial property owners is $16,520,944.76, which is less than 2024 by a difference of $45,409.64, officials said.

This means that the amount the average taxpayer will pay for the Municipal Tax portion of their total property tax bill will be slightly lower than last year. For comparison:

• In 2023, the municipal tax rate was 48.4 cents per $100 of assessed valuation. On a home assessed at the township average of $454,300.74, the municipal portion of a homeowner's total Property Tax Bill was $2,198.82.
• In 2024, the municipal tax rate was 46.4 cents per $100 of assessed valuation. On a home assessed at the township average of $473,282.75, the municipal portion of a homeowner's total property tax bill was $2,196.03.
• In 2025, the municipal tax rate is projected to decrease to 42.6 cents per $100 of assessed valuation. On a home assessed at the township average of $515,309.60, the municipal portion of a homeowner's property tax bill will be $0.81 lower than last year, at $2,195.22.

Based on the estimated rates for 2025, municipal taxes (under the control of the Township Committee), along with the Municipal Open Space tax, account for about 22% of a resident’s total residential bill.

The rest of the Property Tax Bill includes county taxes (about 11%), schools (about 64%), and fire district (about 3%).

The 2025 budget also reflects increased investment in Public Safety & Capital programs, officials said, which include:

• Paving multiple key roadways, including a Department of Transportation (DOT)-grant funded project to pave Hazlet and Holmdel’s portion of Bethany Road from the train tracks to the Parkway Bridge
• New playground equipment for Mercer Street Park
• Six new pickleball courts for Beers Street Park
• New public safety patrol vehicles
• A renovation to the children’s section of the Hazlet Swim & Tennis Club
• IT upgrades
• A new multipurpose recreation facility that's planned to replace the outdated roller hockey rink

The budget is supported by strong revenues coming from interest earned on investments, increased commercial ratables and a tight rein on spending, officials said. Administrator Rob Bengivenga and CFO Alexis Caufield were credited with the town's stable finances.

According to township officials, a recent Moody’s financial rating report commended Hazlet’s “prudent budgeting practices, which help it maintain financial stability and support the township’s strong creditworthiness.” The report also noted that Hazlet boasts one of the lowest debt ratios in the county, officials said.

Deputy Mayor Peter Terranova expressed gratitude to the township’s employees for their hard work and commitment.

“Thank you to all our Township employees for continuing to make these results possible," Terranova said. "Together, we will work to ensure that Hazlet remains a great place to live, work, and raise a family.”

To see the 2025 Municipal Budget Presentation, you can click here. To see the full 2025 budget, you can click here.