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Red Bank council adopts 2025 municipal budget, authorizes 2% tax increase
Summary
Red Bank Borough Council voted unanimously to adopt the 2025 municipal budget, using roughly $3.5 million in surplus to offset taxes and funding capital projects while keeping the local tax increase to about 2% (the transcript records an average homeowner impact near $100).
Red Bank Borough Council voted unanimously to adopt the borough’s 2025 municipal budget after a presentation by Chief Financial Officer Tom Seaman.
Seaman summarized the plan as a “tight budget” that relies on about $3.5 million in surplus to reduce the amount that must be raised through property taxes and reflects an overall 2% municipal tax increase that the council said remains within statutory caps. “We created a pretty good budget this year,” Seaman said during the council meeting, adding that rising health-benefit and salary costs tightened the town’s fiscal outlook.
The council first moved and approved resolution 25-97 related to the municipal operating budget and then opened a public hearing. No substantive public objections were raised during the hearing, and council members voted by roll call to adopt resolution 25-98, formally approving the 2025 municipal budget.
Seaman told the council the borough is using surplus funds to offset tax levies and cited an average property valuation around $600,000; at the 2% municipal levy increase, the CFO described the average impact as “a little over $100 per property” though exact household effects will vary based on individual assessments. The presentation also listed ongoing capital projects — including Marine Park and street improvements — as primary drivers of finance and debt planning.
Council members thanked the finance ad hoc committee and Seaman for the work producing a budget they described as fiscally prudent. On the record roll call for resolution 25-98 the following members voted yes: Council member Vonitakis, Council member Cassidy, Council member Facy Blackwood, Council member Forest, Council member Janone, Deputy Mayor Triiano, and Mayor William Portman.
The council noted it will use a mix of surplus, revenues and, where appropriate, short- and long-term borrowing to finance capital projects. Seaman said the borough plans to pursue notes and later permanent financing in ways intended to levelize future debt service.
