SPRING LAKE — The Spring Lake Borough Council adopted a $24.6 million municipal budget for 2025 at its meeting Tuesday night. Homeowners are to see an increase, on average, of $196 in their annual municipal tax bill.
The adoption of the 2025 to 2026 budget came after a presentation, led by chief financial officer Amy Spera, and the opportunity for residents to speak during the public hearing.
The total budget equals $24,675,748, and is split into four separate funds – the general fund, water/sewer utility, beach utility and pool utility. The general fund is $15,503,803; water-sewer utility fund totals $3,631,081; beach utility is $3,726,029 and the pool utility totals $1,814,835.
The tax rate is .146 per $100 of assessed value, a decrease from last year’s .15. The tax rate, including county taxes, totals .453, a 7.27% decrease from last year.
The average assessed home in the borough is $3,418,180. The average homeowner will see a $196 increase in their annual tax bill.
Mayor Jennifer Naughton thanked officials who worked on the budget, adding, “It was a complicated one this year. All you have to do is pay your own house bills and you realize that everything that you buy costs more, and the same thing for the budget, but it’s salary, wages, gas, utility, energy costs.”
“The budget does fund a lot of the priorities of the council and also the department heads,” she said, “we have a million dollars for roads in there, we’re spending money on our parks, we’re going to start our public sidewalk reconstruction program, stairs at the borough hall, new SCADA (Supervisory Control and Data Acquisition) system at the water department.”
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