Colts Neck Receives $1.9 Million in State Municipal Aid

Colts Neck Township is receiving $1,980,938 from the state for its 2013 budget, according to numbers released from Trenton last week.

It is unknown how the funding impacts Colts Neck's budget annually, or how the funds will be allocated this year. Colts Neck Business Administrator Bob Bowden did not return phone calls from Patch.

According to Gov. Chris Christie, no Monmouth County township will see a decrease in funding this year.

“Together with bipartisan reforms such as the 2 percent property tax cap, pension and health benefits changes, and a 2 percent cap on interest arbitration awards, we are delivering real relief to property taxpayers in New Jersey as evidenced by two consecutive years of the smallest property tax increases in two decades," Christie said in a news release.

Neighboring townships Marlboro and Holmdel received $2,268,949 and $1,990,433 respectively.