LAVALLETTE — The Lavallette Borough Council introduced the 2025 municipal budget, totaling $10,771,816, at its Monday, April 7, meeting.
Homeowners in Lavallette can expect to pay 28 cents for every $100 dollars of assessed property value. The local tax rate is estimated to increase by one cent in the 2025 fiscal year over 2024. This translates to a roughly $170,000 increase in the tax levy, from $6.69 million to $6.86 million year-over-year.
A home assessed at the average of $900,000 would pay approximately $100 more in municipal purpose taxes in 2025 than 2024, according to Borough Administrator John O. Bennett.
“The current budget has our contractual salaries up about $140,000 for the year. Our health insurance (increase), which is staggering, is $84,000 for this year, and we received a phone call that that number may look low compared to what they’re looking at for the next year,” he said, regarding some of the largest portions of the budget.
“Pension plans for PERS (Public Employees Retirement System), police and fire is an increase of $56,000,” said Bennett. “So, the increases on just those three items is $280,000.”
The public hearing and adoption of the budget resolution are scheduled for the Monday, May 5, borough council meeting. The meeting will take place at 7 p.m. in the second-floor meeting room of the municipal building, located at 1306 Grand Central Ave.
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