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Jun 25, 2020

Holmdel Township Committee Approves Budget with No Tax Increase

Courtesy of the Holmdel Township Police Department

In a unanimous vote, the Holmdel Township Committee approved the 2020 Operating Budget, maintaining services and staffing with a zero tax rate impact on
Holmdel residents. This marks the fourth straight year of a flat tax rate in Holmdel.

“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. “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.”

This zero percent tax rate change for 2020 comes amid growing uncertainty as a result of the coronavirus pandemic. At a time when many government agencies are cutting services and considering laying off workers, through the careful budgeting process, Holmdel was able to find areas of savings without cutting

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

“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 Zach Gilstein, committee chair.

The average Holmdel household pays about $6.39 per day in municipal taxes for services such as police protection, parks and road maintenance, recycling services and community programming. This year, the township also plans on completing the paving of more than 13 miles of municipal roads and implementing a body worn camera program for the police department.

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