County budget drops tax rate

The Ocean County Board of Free-holders has introduced a $256 million spending package for 2002 that comes with a 2-cent decrease in the county property tax rate.

"This budget keeps the county tax rate affordable," said Freeholder Director Joseph H. Vicari. "This county is on sound financial footing, and even with a tax rate decrease, this budget continues to provide quality services that our residents expect."

According to a press release, the budget, up $16.3 million, will be the subject of a public hearing scheduled for 4 p.m. March 20 in the Ocean County Adminis-tration Building, Toms River.

Emphasizing that the board is maintaining its long-standing tradition of "no surprises" when it comes to the county’s finances, Freeholder John C. Bartlett Jr., who serves as the liaison to the finance department, said that unlike talk from other areas, there is no budget crisis in Ocean County.

"We have financial stability here," Bartlett said. "We are at the lowest point in our county tax rate in eight years."

Under the proposed spending package, the county property tax rate will fall from 47.2 cents per $100 of equalized property value to 45.2 cents which represents a $40 decrease in county taxes on a home assessed at $200,000.

Bartlett said the 6.79 percent or $16.3 million increase over last year’s budget will be used to fund $5.1 million in the salaries and wages account; an additional $6.6 million for capital cash projects including road and drainage projects, bikeway projects and animal shelter renovations; an additional $800,000 for Ocean County College and the Ocean County Vocational Technical School System; $730,000 for the county Self-Insurance Fund; $331,500 for the Barnegat Bay Watershed Program; and $2.7 million for health benefit costs.

In addition, the county plans to bond or finance $25 million of capital projects in the new budget in addition to the $19 million earmarked for "pay-as-you-go capital improvements."

"Our total debt will remain even," Bartlett said. "We will borrow $25 million, and we will pay off $25 million."

Bartlett said the county ratable base has grown from $40 billion to $45.4 billion, noting the base has grown about 3.25 percent a year since 1989.

Bartlett said there are some key areas to developing a budget, including conservative revenue projections and a healthy surplus.

"First of all, it is essential to have conservative revenue projections," he said. "A conservative budget leads to stability."

In the 2002 budget, county officials anticipate revenues to total $51,472,028.

"We’re anticipating revenues to be no greater than what was realized in 2001," Bartlett said.

Bartlett said the proposed spending package relies on $14.5 million from the county’s surplus account, leaving $15.5 million in that rainy-day account. In addition, the amount to be raised by taxation in the new budget is $205 million, up $17 million.

He said just because you budget the money doesn’t mean you have to spend it.

"The 2001 county budget was underspent last year by $9 million," Bartlett said. "This county budget is one that secures the future of the county."