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Colts Neck committee introduces 2026 budget proposing lower tax rate and use of $2.75 million in surplus
Summary
The Colts Neck Township Committee introduced a $19.12 million 2026 budget that uses $2.75 million of surplus and projects a modest tax-rate reduction; officials said the plan trims spending by roughly $957,000 from last year while protecting core services. The measure was approved for introduction and scheduled for adoption April 29.
The Colts Neck Township Committee introduced the 2026 municipal budget on March 25, proposing an operating budget of $19,118,181.67 and the use of $2.75 million in surplus to lower the net tax burden for residents.
Town officials, led by the finance presentation to the committee, said the budget is $957,000 lower than the 2025 operating budget and would leave an estimated surplus balance of about $2.39 million (roughly 12.5% of the budget), which officials described as consistent with the municipality’s multi-year rolling average. The proposed tax-rate figure in the presentation would reduce the rate from .278 to .254; the township estimated this would lower the tax bill on an average appraised home by about $44.96.
Presenters pointed to several cost drivers that affected the budget: storm and snow removal costs are up sharply (the presentation cited an estimate of roughly a 59% increase for storm-related costs), insurance costs up by about 22.8%, recycling cost increases and pension cost increases near 4.8%. The plan includes $2.2 million for pay-as-you-go capital improvements and continues a conservative approach to debt in order to protect the township’s bond rating and borrowing costs.
Committee members praised staff for the work on a budget they described as “aggressive” and said it preserves core services including police, emergency response and public works. Some members urged further line‑item review and asked staff to return with additional detail on specific capital requests, recreational field costs and proposed vehicle replacements. One member voted against introducing the budget, citing additional potential cuts; the introduction motion was approved on roll call (four in favor, one opposed). The committee scheduled formal adoption for April 29, 2026.
Next steps: the budget will be posted as required, open for public review and returned to the governing body for the adoption vote on the advertised date.
