No Tax Increase In Approved 2020 Holmdel Budget

HOLMDEL, NJ – The Holmdel Township Committee passed the 2020 Operating Budget in a unanimous vote last week. The new budget is slated to maintain the same services and staffing without impacting tax rates for residents, marking the fourth year in a row of flat tax rates in the township.

"I am proud that the Township Committee approved this budget with a 4-0 vote last evening. It is a fiscally responsible, balanced budget that meets the needs of Holmdel’s residents," said Mayor Greg Buontempo in a statement. "We continue to provide the services that our residents expect and deserve focusing on public safety, infrastructure improvements and recreational opportunities while still respecting the difficult financial circumstances of many of our residents at this time."

While the average Holmdel household pays approximately $6.39 per day in municipal taxes, concerns over an increased tax rate unfolded earlier this year as residents voiced their uncertainty over the coronavirus pandemic.

The 2020 Township Budget was reviewed by the newly formed Holmdel Finance Committee.

“We believe it represents the appropriate accounting of the anticipated revenues and expenses, and appropriately reflects the current state of the revenue expectation given the COVID-19 situation,” said Committee Chair Zach Gilstein in a statement.

According to officials, the committee was able to find areas of savings without sacrificing any programs. For 2020, the Township anticipates the completion of over 13 miles of roads, as well as the implementation of a body camera program for Holmdel police.

A full budget presentation can be found on the township website.