Monmouth freeholders propose $472M budget Board will host public hearing on plan Feb. 13 in Middletown FREEHOLD - The Monmouth County Board of Freeholders will be taking its 2007 budget "on the road" this month with a program that will feature a PowerPoint presentation on the proposed spending plan followed by opportunities for the public to provide input. The first stop was Feb. 6 at the Monmouth County Library Headquarters in Manalapan. At 7 p.m. on Feb. 13, it will move to the Student Life Center at Brookdale Community College, Lincroft. A final public hearing and adoption is scheduled for 7 p.m. Feb. 22 at a regularly scheduled meeting of the Board of Freeholders in the Hall of Records, Freehold. In a press release issued by the county, Freeholder Director William C. Barham said, "We think it's important to give taxpayers a better opportunity to learn how the county budget is put together. It is equally important for residents to have ample opportunity to comment on the budget. I hope we get a good turnout." The freeholders introduced the 2007 budget at a meeting held Jan. 25. The $472 million proposal limits the county tax levy increase to 3 percent, which means homeowners would pay an average of $41 more this year than they did last year, according to information provided by the county. The proposed spending plan is up by $14.9 million, which is largely due to increases in fixed costs such as health expenses and pension obligations. Of that amount, only $2 million is considered discretionary and includes funding for public safety and education. "We have little or no control over the fixed spending," Barham said. "In addition to the zero-balance budgeting approach implemented last year, we reviewed the operations of each county department in search of additional savings. We are pleased the tax levy increase was held to 3 percent without sacrificing the many quality services county residents expect." Under the proposal, the amount to be raised by taxation in 2007 would be $287 million, which represents the 3 percent increase. It is the smallest percentage increase for any budget in the past eight years, and is below the rate of inflation. The increase in the tax levy last year was 3.3 percent, according to the press release. The county tax rate would be 24.06 cents per $100 of equalized valuation, Finance Director Mark E. Acker said. Currently the rate is 26.61 cents. One reason for the lower tax rate is a 13.6 percent increase in the county's ratable base, which now totals $119 billion. The county tax rate will differ in each municipality because it is adjusted according to equalized values. The average residential tax assessment is $383,779, Acker said. The average county tax bill will be $1,403, up $41, under the proposed spending plan. Freeholder Deputy Director Lillian G. Burry said the county has benefited from the financial markets in recent years, creating a better return on investments. "I would characterize this year's budget as controlled spending," Burry said. "The upturn in the financial markets, coupled with the growth in the county's ratable base, has produced a healthier return for the county these last few years." She said most of the county's discretionary spending supports Brookdale Community College and the vocational high school system.