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Colts Neck adopts 2026 municipal budget with 8.66% reduction to municipal rate; one committee member votes no
Summary
The Township Committee adopted a $19.12 million 2026 operating budget that reduces the municipal tax rate from 0.278 to 0.254 and uses $2.75 million of surplus; the vote passed 4–1 amid debate over vehicle purchases, legal spending and calls for further cuts.
Colts Neck's Township Committee on April 29 adopted the 2026 municipal operating budget, $19,118,181.67, approving a package the administration said reduces the municipal tax rate and preserves services while using $2,750,000 in surplus to balance revenues and appropriations.
Chief Financial Officer John Antonides told the committee the budget relies on $12,417,000 in property‑tax revenue, just over $2 million in state aid and local revenues to meet appropriations. "The tax rate has gone from 0.278 in 2025 to 0.254 in 2026," Antonides said, and the average home valuation cited at the meeting rose to $1,367,000.
Township auditor John Swisher described his compliance review as favorable: "I found it to be in excellent condition," he said, noting the consistent use of surplus as a sign of conservative budgeting that bond rating agencies review.
The budget includes $1.5 million in pay‑as‑you‑go road improvements, $300,000 for fire equipment and $290,000 for DPW and municipal improvements, leaving a capital improvement fund balance of roughly $825,000. The administration also said the budget will reduce municipal spending by 8.66% in some operational metrics while providing a modest tax cut to residents.
The adoption vote revealed one formal no. Committeeman Tubia said he opposed the budget, asking for additional cuts and raising concerns about eliminating a second police vehicle, overtime policies and legal spending tied to affordable‑housing counsel. "I vote no on the budget because I do believe that there's more areas to cut and give real relief to our taxpayers," he said.
Other committee members defended the plan as fiscally responsible. "We're providing a modest tax cut that really offsets the rise in assessments on our properties," one member said. The budget passed on a roll call with four yes votes and one no.
Officials said the township will continue monitoring costs driven by snow removal, insurance and recycling increases and will provide further public detail during required follow‑up presentations and hearings.
