’23 Monmouth Beach Municipal Budget: $9.9 Million

In a time of high inflation — and even higher municipal spending — the borough’s financial team is deserving of some thanks. For their restraint. For their containing the urge to shatter a barrier. This year’s total municipal spending comes in at $9.9 million — just under that magic eight-digit number. To accomplish the mission, the town tapped into its healthy surplus. In essence, returning money to Monmouth Beach property taxpayers.

Monmouth Beach, ’23.

“I don’t need to tell anyone that costs are up,” explained Finance Commissioner Larry Bolsch, upon introduction of the 2023 Monmouth Beach municipal budget at the April borough meeting. Even so, the total property tax increase for ’23 is under 2.5% — with the average homeowner seeing a reasonable $75 annual annual tax increase, said Commissioner Bolsch. Last year, according to the Asbury Park Press, the average property tax bill in Monmouth Beach cleared $10,000.

If local taxpayers were to review one public document all year — I recommend that it be their annual municipal budget. It’s probably the most transparent and insightful look into how tax dollars are managed and allocated by local governments. Understanding budget basics can lead to more meaningful engagement and informed decision-making among residents and local officials alike.

Municipal spending in Monmouth Beach has more than doubled since 2002 ($4.7 million); it’s up over 30% since 2012 ($6.9 million). Even as recently as 1992, the town budget was only about $3 million. It’s not just in Monmouth Beach, either. It seems like some communities are in a race to spend more. The current $67 million Long Branch city budget has more than doubled since 2002 ($32 million). In Sea Bright, the ‘22 municipal budget is about $7.1 million, nearly doubling in less than a generation. This progression was in times of very low inflation (the 20-year average is under 2%) and flat or declining populations. Spending goes up and up and up but few — if any — local elected officials like talking about it. Oh well, I know some local politicians who would love to spend even more.

“Monmouth Beach is delightfully situated and it must be well governed to prosper.”
—Long Branch Daily Record, 1929

That said, the Monmouth Beach commission has a long record of holding the line on big tax increases — even in challenging times. Sound financial management of a municipality (keeping annual property tax increases at or under inflation) as practiced in Monmouth Beach appears an ongoing commitment. This fiscal rationality in government spending — more and more a fleeting skill — is something Monmouth Beach taxpayers should respect. The town has posted the ’23 budget online — HERE.

Other notable budget items:

• The MBBP had an epic ’22 summer season — grossing nearly $1.6 million. (probably a record?) The budget anticipates similar pavilion numbers for Summer ’23. The cost to operate the municipal beach club in ’23 will clear $500,000.

• The ‘23 budget appropriates $1.2 million in surplus funds to be used for the maintenance of stable taxes.

• New parking meters at the MB Cultural Center on Ocean Avenue grossed $102,000 in ‘22 and the town budgets about the same in ‘23.

• Total spending on police/public safety will reach $1.7 million in ‘23.

• The ’23 borough budget makes annual contributions to the borough’s fire company, $50,000; EMS squad, $25,000; and library, $39,000.

• Spending on municipal public works/grounds salaries and expenses reaches $680,000 in ’23.

• Legal fees for ’23 are budgeted at under $93,000.

• Like all municipalities, the budget makes a sizable contribution to employee retirement plans — $750,000+ in 2023. Group health insurance costs for borough employees clears $1 million in the ’23 budget; the employee contribution is under 15%. The budget accounts for 27 full-time employees and 162 part-timers.

• The disposal of waste at the county land fill will cost taxpayers $400,000 in ’23.

• The ’23 budget lists nearly $14 million in capital improvement projects. This “wish list” includes various road work, buildings and grounds improvements, new police/ fire/EMS vehicles and equipment, creek dredging and beach replenishment.

• The total assessed value of all Monmouth Beach property is just under $2.1 billion.

• The average assessed value of a home in Monmouth Beach is $877,000.

Note: In covering local budget matters since the late-1980s, I’ve found that the one thing most citizens fail to realize is that municipal leaders are responsible for only one-third of a total property tax bill. Three different agencies impact the total cost: town government, county government and the public school system. Altogether, the ’23 budget expects the total tax load for Monmouth Beach property owners will approach $25 million. Ouch!