Belmar Set to Adopt 2024 Budget with Tax Increase at Upcoming Council Meeting

BELMAR, NJ— Belmar residents have an opportunity to participate in a crucial council meeting where the mayor and council will discuss and finalize the borough's 2024 budget. The meeting is scheduled for 6:30 PM this Tuesday at the Borough Hall located at 601 Main Street.

The proposed spending in the budget for 2024 is set at $23,259,468, marking a 1.9% increase from the previous year's spending of $22,824,095.

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A significant portion of the budget's revenue comes from various utilities, including water and sewer, parking, and beach, along with a mandatory library tax. However, the most directly controllable revenue in the budget by the local government is the tax collected for municipal purposes. This year, that segment is poised for a 4% increase, which translates to an additional $356,950, bringing the total to $9,134,327 from a previous $8,777,377 .

This increase follows a previous increase of 5.2% from 2022 to 2023, indicating a continued trend to increase taxes to support municipal needs. In 2022, the taxes collected for municipal purposes amounted to $8,340,360.

The upcoming council meeting will include a public hearing, giving Belmar residents an opportunity to voice their opinions and seek clarifications on the budget details. The hearing is a part of the town's commitment to transparency and community involvement in fiscal matters.

The meeting gives community members an opportunity to understand better how their tax dollars are being utilized and the financial strategies in place to ensure the town's growth and stability. Following the public hearing, the council is expected to pass a resolution adopting the budget for the upcoming fiscal year.

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