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Asbury Park council adopts 2026 budget, holds tax rate steady
Summary
The Asbury Park City Council voted May 27 to adopt the 2026 municipal budget of $63,085,014, keeping the municipal tax rate at 0.516. Officials said the roughly $192 average property-tax increase reflects higher property valuations, not a rate rise; the budget keeps current services and funds a transportation/utility amendment.
The Asbury Park City Council on May 27 adopted the city’s 2026 municipal budget, approving a $63,085,014 spending plan that the administration said remains under the state cap and preserves existing city programs and services.
City Manager (presenting the budget) said the adopted plan keeps the municipal tax rate unchanged at 0.516 and that the average homeowner will see a $192 increase because assessed property values rose, not because the city raised its rate. “The proposed budget… is actually under the state cap,” the manager said during the presentation, adding that departments accepted cuts and staff negotiated lower health-insurance increases to help hold the line on taxes.
The council first opened a public hearing required for a technical amendment related to state-determined revenues and transportation-utility charges; no members of the public spoke during the amendment hearing. After discussion and a motion, council members present voted to adopt the final budget.
City finance staff detailed several cost-control measures the administration credited with limiting tax impacts, including renegotiated employee benefits that reduced an anticipated 34% increase in health costs to roughly 13% and department reductions implemented during budget review.
Why it matters: Officials said maintaining the tax rate while funding city services reflects efforts to limit fiscal pressure on residents amid rising costs. The council also introduced a bond ordinance to finance transportation and utility improvements and set a June 10 public hearing for that measure.
Votes at a glance: Council adopted the 2026 municipal budget after a required public hearing and recorded affirmative votes by the members present. The meeting minutes show the budget adoption motion carried and that the budget was certified as balanced by city staff.
Next steps: The bond ordinance for transportation/utility work was introduced and scheduled for a public hearing on June 10; the city will implement the adopted budget for the 2026 fiscal year.
