Ocean County Budget Up $8.1 Million, Very Slight Drop In Tax Rate

TOMS RIVER, NJ - The Ocean County Board of Chosen Freeholders plan to introduce the 2018 budget on Wednesday that calls for an $8.1 million increase and a slight drop in the county tax rate, Freeholder John C. Bartlett Jr. said.

The county is still recovering from Superstorm Sandy and the 2008 recession, said Bartlett, who has put the budget together for decades.

The freeholder board has pledged to lower the county tax rate as ratables rise during the recovery, he said.

“Last year we decreased the tax rate by 1/10th of a cent and this year we will decrease it by half a cent to 34.7 cents per $100 of equalized value," Bartlett said. "That is the direction we would like to follow. As our ratables rise, we will gradually reduce the tax rate."

The board is slated to introduce the $416,092,260 budget at the March 7 meeting at the Ocean County Administration Building at 101 Hooper Aveneue in Toms River. The public hearing and adoption will be held at the May 4 meeting.

Property values in the county have increased by 2.74 percent to $99.8 billion, but that is still $9 billion less than it before the recession and Superstorm Sandy, Bartlett said.

"That is now beginning to turn around," he said.

Freeholder Director Gerry P. Little called the budget "physically prudent."

“It will allow us to maintain our AAA bond rating, funds our programs and services and allows us to invest in our infrastructure,” he said.

The $416,092,260 budget is up $8.1 million. The amount to be raised by taxation is $346,491,117, up 1.29 percent.

The county will use about $22 million of the $55.4 million in available surplus, Bartlett said.

“In order to maintain our AAA bond rating, it’s imperative we keep a surplus balance that is equal to about 10 percent of the budget,” Bartlett said. “Having the highest bond rating possible helps us tremendously when we need to bond for capital projects.

A strong surplus is needed in times of natural disasters and emergencies like Superstorm Sandy, he said.

“We have to build one year’s budget with an eye toward what it means for the future,” Bartlett said.

County officials plan on paying more cash for capital projects - $25 million - to avoid having to bond for trucks, heavy equipment and major infrastructure upgrades, which will provide more flexibility in future budgets, he said.

Freeholder Joseph H. Vicari said the board will continue its commitment to Ocean County's roughly 170,000 seniors by funding key programs like the senior nutrition program and home delivered meals.

“This is more than just a meal for our seniors, this is a lifeline,” he said. “We are committed to helping our most frail, needy and vulnerable citizens. Our senior programs are second to none and we have pledged this help now and into the future.”

Bartlett said the county is moving "in the right direction."

"We don’t play games with the budget," he said.

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