FARMINGDALE – The Borough Council has adopted a $935,665 budget to fund the operation of Farmingdale during 2019. Council members adopted the budget on July 9.
Borough officials said the budget would be supported in part by the collection of $486,957 in taxes from Farmingdale’s residential and commercial property owners.
In 2018, the council adopted a $1 million budget that was supported in part by the collection of $435,027 in taxes.
From 2018 to 2019, total spending is down $64,335 and the tax levy is up $51,930.
Borough officials said the impact of the budget on the average residential property that is assessed at $317,547 will be a municipal tax increase of $101.
The owner of a property assessed at the borough average can expect a $392 increase in Farmingdale school taxes; a $48 increase in Freehold Regional High School District taxes; and a $27 decrease in Monmouth County taxes, according to municipal officials.
The total estimated tax increase for 2019 on a property assessed at the borough average is $515, according to municipal officials.
Farmingdale has gone from a part-time Department of Public Works to a full-time DPW to provide for better overall maintenance and upkeep of borough infrastructure. There have also been increases in medical benefits and pension costs, council members said.