Hainesport Maintains Flat Tax Rate in 2025 Budget Amid Financial Challenges
- Meeting Overview:
At the recent Hainesport Town Council meeting, the council unveiled the 2025 municipal budget, maintaining a flat tax rate while managing to bolster financial stability amidst a decrease in taxable valuation. This fiscal achievement was underscored by strategic fund management and the recovery of lost interest earnings.
05:22The presentation of the 2025 budget attracted attention as it outlined an operating budget of $5,317,700. This included a $365,000 reserve for uncollected taxes and targeted investments in public safety and infrastructure. The municipal levy, the amount to be raised by taxation, was established at $2,732,265. Notably, the council managed to achieve a flat tax rate, maintaining the previous year’s levels, an accomplishment that sets Hainesport apart as one of the few municipalities in New Jersey to do so.
Key to this financial strategy was the adept oversight by the Chief Financial Officer (CFO), who highlighted the recovery of lost interest earnings and the capture of prior investment management errors. A $5 million investment in the New Jersey Cash Management Fund was noted for its better returns, contributing to the town’s financial resilience. The council emphasized the importance of maintaining a healthy fund balance to buffer against potential tax increases, especially given the decrease in total assessed value due to exemptions for disabled veterans.
The budget also included significant allocations for community services and infrastructure, with $200,000 earmarked for a new fire truck and $350,000 committed to Creek Turn Park phase one improvements. An additional $500,000 was designated for the road improvement program. The average home assessment was reported at $281,680, with no rise in municipal taxes, maintaining an average monthly municipal tax bill of $86.92.
The council also discussed the implications of the net taxable valuation decrease, attributed to over $3 million in exemptions granted to disabled veterans. This reduction in assessed value presented challenges in maintaining the flat tax rate. However, the use of over $1.6 million from the fund balance was highlighted as a fiscally responsible measure to ensure financial stability.
25:31In addition to budgetary discussions, the council addressed public safety and community well-being. A patrolman provided a report on local crime, particularly car thefts, and advised residents to secure their vehicles and key fobs. The evolving tactics of criminals, including the potential cloning of key fobs, were noted, with suggestions for residents to take additional precautions.
Public comments during the meeting included a resident’s plea for transparency in a robbery investigation and a call for increased police presence, particularly for the safety of elderly residents. Another resident raised concerns about environmental issues related to geoengineering and urged the council to support a bill prohibiting such practices.
33:27The meeting also highlighted community initiatives, with the announcement of an $80,000 recreation improvement grant for replacing solar lights along the municipal park walking path. Updates were provided on the Creek Turn Park improvement project, with engineers completing an initial site survey. The administrator shared plans for sidewalk repairs and the acquisition of a new defibrillator for the community center, emphasizing ongoing investments in local infrastructure and safety.
42:08Community engagement was further encouraged through upcoming events such as an Easter egg hunt, a seminar on senior medication interactions, and a pancake breakfast for veterans. The council also celebrated the expansion of the Mayor’s Wellness Campaign and the formation of a veterans task force, highlighting the town’s focus on enhancing public health and fostering community spirit.
Leila Gilmore
City Council Officials:
Ken Montgomery, Andy Dick, Anna Evans, Karen Tordy
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Meeting Type:
City Council
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Committee:
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Meeting Date:
04/08/2025
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Recording Published:
04/14/2025
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Duration:
50 Minutes
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Notability Score:
Routine
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State:
New Jersey
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County:
Burlington County
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Towns:
Hainesport
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