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RED BANK: NOW TAKING TAX PREPAYMENTS

By JOHN T. WARD

Red Bank has joined Belmar, Jersey City and other New Jersey municipalities in encouraging residents to consider reducing the impact of the newly adopted federal tax plan on their wallets.

How? By prepaying local property taxes before the end of 2018.

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RED BANK: SPARKS FLY OVER BUDGET

Councilwoman Linda Schwabenbauer, seen here last May with GOP colleagues Mark Taylor and Mike Whelan, found herself at odds with them, and Mayor Pasquale Menna, Wednesday night. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

Red Bank adopted its 2017 budget Wednesday night amid some odd political frictions.

Councilwoman Linda Schwabenbauer, who leads the budget-setting finance committee, took clear umbrage at a last-minute critique of the spending plan by Mayor Pasquale Menna. Then, the only ‘no’ votes when it came up for adoption were cast by her two fellow Republicans on the dais.

And before the night was over, Schwabenbauer’s main adversary in this year’s election, Democrat Ed Zipprich, issued a press release commending her.

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RED BANK: TAX BILLS TO RISE 2.9 PERCENT

Councilwoman Linda Schwabenbauer, a CPA who heads the finance committee. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

taxes

Typical Red Bank homeowners would see a $x increase in the borough portion of their 2017 property tax bills under a budget introduced at Wednesday night’s council meeting.

For the owner of a home assessed at the town-average $362,342, that means an increase of $57.25 for the year.

 

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RED BANK: TAX HIKE TRIMMED ON A TWEAK

rb parking 041316 2A recent deal allowing the Count Basie Theatre to sell parking spots at borough hall on specified dates paved the way to a new budget.  (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

taxesThe owner of a typical Red Bank home will pay $35 more in local property taxes this year, rather than $40, following passage of the first Republican-led budget in a generation Wednesday night.

The borough council’s unanimous approval of the 2016 spending plan marked the anticlimax to a brief standoff that began when Democrats raised eleventh-hour objections to  what they later called “‘fluff and ‘slush funds” in the GOP budget.

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RED BANK: DEMS TARGET ‘SLUSH FUNDS’

horgan schwabenbauer 101815Council members Kathy Horgan, left, and Linda Schwabenbauer, seen at last year’s Halloween parade, are now at odds over the budget. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

taxesTwo weeks after it was shot down on the mayor’s tiebreaking vote, Red Bank’s first Republican-led budget in a generation faces its next test on Wednesday.

That’s when council members will square off over cuts suggested by Democrats to what they called “‘fluff’ and ‘slush funds.'”

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RED BANK: BUDGET FAILS ON TIEBREAKER VOTE

schwabenbauer menna 052516Mayor Pasquale Menna confers with Councilwoman Linda Schwabenbauer during the council’s budget deliberation Wednesday. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

taxesRed Bank’s first Republican-led budget in a generation failed to win approval when Mayor Pasquale Menna cast a tiebreaking vote at Wednesday night’s semimonthly council meeting.

His vote against the spending plan followed a 3-3 deadlock that included a “no” by a member of the budget-crafting finance committee, Democrat Kathy Horgan, whose caught committee chairwoman Linda Schwabenbauer, a Republican, by surprise.

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RED BANK: TAX INCREASE REDUCED

rb budget q&A 051816 1A half-dozen or so residents, outnumbered by borough employees and officials, attended the budget session. (Photo by John T. Ward. Click to enlarge)

[Update, May 20: Visuals from this presentation are now available online here.]

By JOHN T. WARD

taxesA controversial increase in parking fees will trim the local property tax increase to less than half that previously anticipated, Red Bank officials said Wednesday.

At the annual informal budget presentation, held at borough hall, Councilwoman Linda Schwabenbauer said the spending plan scheduled for adoption next week calls for a two-percent tax increase, or about $35 for the year for the owner of a home assessed at the town-average $354,006. Read More »

RED BANK: ‘COMPROMISE’ PARKING HIKE OK’D

rb parking 051116 1Fees for parking in downtown lots would double, to $1 per hour, while metered spots on the street would rise 50 percent, to $1.50 an hour. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

LicPlate1Red Bank’s parking fees are going up.

The borough council approved rate increases Wednesday night, billing the action as a “compromise” with downtown business owners.

Still, merchants decried the hikes, which they said will further alienate potential visitors already turned off by metering, aggressive enforcement and costly tickets. Read More »

RED BANK: TAXPAYER BUDGET Q&A SLATED

rb boro hall 041416taxesFor the 10th year in a row, Red Bank borough government department heads are scheduled to offer presentations on their 2016 budget proposals at a public information session scheduled for Wednesday, May 18 at at borough hall.

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RED BANK: STEEP PARKING FEE HIKE PROPOSED

rb parking 041416 2Fees for parking in downtown lots would double, while metered spots on the street would see a 50-percent increase. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

taxesRed Bank’s council laid two controversial proposals on the table Wednesday night:

• a budget that debuts with a 5.5-percent property-tax increase

• and a plan to soften the blow to taxpayers with a sharp increase in parking fees.

The backlash to the parking plan was immediate, both in the audience and on the governing body’s dais.

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RED BANK: PARKING IDEA SPUTTERS

rb white meter 112415A proposal to extend meter enforcement hours appeared to get no traction Wednesday night. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

taxesThe Red Bank council postponed the introduction of the first majority-Republican budget in a generation Wednesday.

Councilwoman Linda Schwabenbauer, who’s heading up the budget-writing finance committee, said she wanted more time to hear suggestions from residents and business owners on how to reduce a prospective tax increase.

But one of Schwabenbauer’s own suggestions — increasing the number of hours for which metered parking is in effect — appeared to be a non-starter.

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RED BANK: GOP DRAFT BUDGET HAS TAXES UP

schwabenbauer 010216 2Councilwoman Linda Schwabenbauer, who heads the finance committee, says there’s been a “severe” drop in revenue from last year along with an increase in expenses. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

taxesThe first majority-Republican Red Bank budget in a generation is set to make its debut this week, and it comes with a likely tax hike.

While officials are hopeful they can trim the increase, the draft budget shows a 5.5-percent jump in the municipal levy, or roughly $115 a year for the owner of a residential property assessed at the average $354,497, Councilwoman Linda Schwabenbauer tells redbankgreen.

One way to soften the impact, she said, is to extend the hours for which parking fees are collected.

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RED BANK: DEADLINE ON TAXES EXTENDED

taxesRed Bank property owners will have until August 25 to pay their third-quarter tax bills without incurring a penalty, under a resolution past by the borough council Wednesday night.

The grace period usually ends on the 10th day of the month quarterly taxes are due. But because the tax rate for the new budget year was not certified by Monmouth County until July 17, bills won’t be mailed until July 31 – and the law requires a 25-day payment period, according to tax collector Ashlesha Deshplande. Still, for those who pay later than August 25, the interest applies to the full 25-day interim, she cautioned. (Photo by John T. Ward. Click to enlarge)

RED BANK: NO TAX INCREASE

dupontCouncilman Mike DuPont credited borough employees for financial sacrifices that helped keep taxes level with last year. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

taxesRed Bank property owners won’t be getting a 3.1-percent local property tax for 2015, as previously expected.

In fact, there will be no increase at all under a municipal budget adopted by the borough council Wednesday night.

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MOODY’S GOES NEGATIVE ON RED BANK DEBT

just_in1By JOHN T. WARD

Wall Street debt-rating agency Moody’s has raised concerns about Red Bank’s $25.2 million worth of general-obligation bonds.

In a announcement posted on its website late last Friday, Moody’s affirmed its prior Aa3 rating on the debt, but revised its outlook to “negative,” citing a drop in the town’s current-fund balance to 2.14 percent of revenue in 2010, from 9.14 percent in 2007.

The agency indicated that a downgrade of the debt could follow if “recent fiscal strain” continues.

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