Beach council introduces $18.3 million municipal budget

POINT PLEASANT BEACH — The Point Pleasant Beach borough council introduced its 2024 municipal budget, tentatively totaling $18,380,335 at the Tuesday, April 16 meeting.

Homeowners in Point Pleasant Beach can expect to pay 47 cents for every $100 dollars of assessed property value. Based on an average property assessment of $575,262 (as of 2024), the local tax rate is estimated to increase by 1.72% in the 2024 fiscal year over 2023. This translates to a roughly $175,000 increase in the tax levy, from $9.58 million to $9.75 million year-over-year.

A home assessed at the borough average would pay $46.02 more in municipal purpose taxes in 2024 than 2023, totaling about $2,175.

Ratables in Point Pleasant Beach, that is, the net valuation of all taxable land in the borough, are around $2.07 billion.

Ms. Riehl explained to The Ocean Star some of the largest appropriations, including police salaries and wages at $4.7 million, debt service at $2.6 million, health and liability insurance at $2.4 million and pension payments at $1.5 million.

The public hearing and adoption of the budget resolution are scheduled for the Tuesday, May 21 borough council meeting. The meeting will take place at 7:30 p.m. in the second-floor meeting room of borough hall, 1306 Grand Central Ave.

This is an excerpt of the print article. For more on this story, read The Ocean Star —on newsstands Friday or online in our e-Edition.

Check out our other Point Pleasant Beach stories, updated daily. And remember to pick up a copy of The Ocean Star —on newsstands Friday or online in our e-Edition .

Subscribe today! If you're not already an annual subscriber to The Ocean Star , get your subscription today! For just $38 per year, you will receive local mail delivery weekly, with pages and pages of local news and online access to our e-edition on Starnewsgroup.com.