Manasquan Predicts $77M in Ratables Lost in Hurricane Sandy
Borough planning for 5 percent difference over 2012 as budget workshops continue
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Manasquan officials are grappling with how to deal with an estimated $77.09 million loss in its ratable base after Hurricane Sandy's devastation.
A January budget presentation focused on the tax impact of the storm as the borough begins to prepare the 2013 municipal budget. Among the concerns are increased cost of emergency and long-term rebuilding, and decreased revenue from tax appeals and loss of the ratable base.
As a result of factors such as Hurricane Sandy, tax appeals and more, the total assessed value of property in Manasquan will drop 5 percent from $1.606 billion to $1.526 billion.
Beyond $77 million in losses from Hurricane Sandy are 2012's tax appeals. Twelve occurred in 2012, but had a $10.89 million effect on the assessed value in Manasquan.
Though there is a gain in assessed value with $8.9 million in new construction, the total loss in assessed value is $80 million.
The loss of ratables is not the only loss of revenue, said Borough Administrator Joe DeIorio in his budget presentation. Manasquan will also see a slight drop in its tax collection rate by 0.29 percent. Revenue from the Sea Watch restaurant in the form of rent payments will decrease since the facility was destroyed in Hurricane Sandy.
Some expenses are expected to increase in 2013's budget, according to the workshop presentation. Debt service, health care, salary negotiations will factor in.
The borough has not presented its budget but continues to discuss the fiscal process in budget workshops held in weekend meetings at Borough Hall.
The next workshop meeting is Jan. 26 at 9 a.m.
charlie
10:29 am on Thursday, January 24, 2013
Manasquan loves to spend, spend and spend. One example is, the life guard building, it was one of the only buildings on the east coast detroyed by the earthquake which occured several years ago. And they're replacing it with a McMansion. How about the rehab of the old coast guard station that needs another rehab. And the roads by the post office that just needs paving. One time they actually wanted astroturf on the football field. But that's okay, the super is still getting 100K+ and not working. Go Squan. Stop living off the backs of tax payers.
Victor
10:30 am on Thursday, January 24, 2013
in other words, look for a major tax increase because, as usual, we don't know how to decrease expenses without politically hurting ourselves and our cronies.
Marilyn
1:10 pm on Thursday, January 24, 2013
Perhaps sharing your feelings at Council meetings would go a long way. Please attend and speak up. If we choose not to particiapte then we choose to accept the decisons that are made for us.
Kevin
11:17 am on Thursday, January 24, 2013
The largest expense in the budget is the Police Department.
Take a look at the budget and look at the Police Department budget for Salaries, Healthcare & Pension. Then look at the total number of salaried officers. Divide for an average amount in total compensation per officer.
What is the average income for a family in Manasquan? Compare it to the total compensation per officer. Tell me if its to much per officer.
The council needs to tackle this first before raising taxes.
Marilyn
12:47 pm on Thursday, January 24, 2013
Yes. This is a construction project that just was not a necessity, it is a "want." I have suggested to Council that they should be looking at their needs right now and scaling back on their wants. The other construction project that could possibly be put on hold is the Plaza project. While this does need rehabilitation, it is not a necessity in the wake of the expenses from storm Sandy. While reducing the assessed value of homes affected by Sandy we reduce the revenue to the town. So where does this shortfall in revenue get made up. Well, I guess it is on the shoulders of all the other taxpayers. So the fair thing to do when preparing the budget is to cut expenses!!! We should not should not spend first and tax later, but tax first and then work within that framework.
charlie
9:40 pm on Thursday, January 24, 2013
Many houses that sustained damage are seasonal homes. No kids in school, no trash and perhaps other city services. Yet these places were used as ratables at the
same rate if not more than someone in town with 4 kids in school. It's time for the town
to start looking at bugets and adjusting accordingly.
fed up
9:21 am on Friday, January 25, 2013
town needs money tax the homeowners - homeowners need money, where are we to get it - we don't get raises to cover cost of inflation, our health insurance is skyrocketing and I can't even get a job - forget the plaza, forget the mcmansion beach building, forget the fluff, some areal are still relying on a pump for their sewers, water mains need fixing, sewer lines, have to looked at the boat docks on Perrinne blvd - need fixing- source of revenue - also 39 ft height limit on the beachfront - wrong- go back to lower homes - bigger homes take more wind impact, block views, sun, water from homes behind - what are we going for Miami Beach - go back to 20-30 years ago - a cute coastal town and perhaps we could live happier with less town and school administration should see how the year round people live -no big salaries, no great health insurance benefits, and yes most work more than 70 hours a week and travel over and hour to and from work.
James
11:39 am on Friday, January 25, 2013
The McMansion is totally unnecessary and another glaring example of Manasquan incompetence. It hey might want to put the beach back together before starting on a million dollar beach office. Instead of Squan Strong the slogan should be Squan Stupid.
Penn Cross
2:43 pm on Friday, January 25, 2013
Over a million dollars to build that relatively small building doesn't seem right.
And there's no point in going to town meetings. If your ideas differ from the majority of council members you're met with condescending attitudes or they just talk over you.
charlie
3:41 pm on Friday, January 25, 2013
James, there should be tee shirts made with that logo and distributed at the next council meeting. This town consists of people trying to get by and idiots only thinking of themselves. I'm gone next year, if my house is worth a nickel.
James
4:06 pm on Friday, January 25, 2013
It truly is mind blowing on how this town arrives at some of their decisions. The beachfront is littered with 20 foot piles of sand displaced by Sandy and THE FIRST thing these idiots do is begin construction on a not needed each office.cant make thtat up. It's frightening.
SQUAN STUPID
Jersey Shore John
5:11 pm on Friday, January 25, 2013
Let's not be too hasty in trashing Manasquan. Although displaced from our home by Superstorm Sandy, we still own a small condo in Edison where we are spending the winter while our home's 1st floor is repaired. Over the past five years, Edison property taxes have increased 20%; Manasquan's have increased by only 10%. At this rate, in a few years, taxes on our condo will exceed those on our fish street primary residence.
Also, keep in mind that the Eastmond Pavilion was badly in need of replacement, and is vital to an efficient operation of the beachfront during the summer season. It's replacement is being funded by beach badge revenues.
Jersey Shore John
Marilyn
6:27 pm on Friday, January 25, 2013
Again I say, which I shared with Council, the Eastmond Pavillion was not a necessity. It would be cheaper to delay this contract at this time than it will cost to build and insure. We do not even know if the pilings were set high enough to be above the final FEMA height guidlines. If they are even 2 inches too low, insurance (an ongoing expense) will be huge cost. They are taking the risk with our money that the building will be high enough to be insured. Let's hope they are making the right decision. By the way, the temporary buildings cost $500 a month to rent.
Marilyn
James
5:51 pm on Friday, January 25, 2013
Last year they had two trailers which I'm pretty sure didn't cost 1 million dollars. The beach ran fine with two trailers. This is a complete and total waste of taxpayer money. And to start the construction of that before putting the beach back together is a total disgrace and a slap in the face of those of us who live at the beachfront.
Jersey Shore John
6:58 pm on Friday, January 25, 2013
Guys. what part of Manasquan being prudent in spending don't you understand? If you don't like it, move out. For me, toss my ashes in the Manasquan Inlet. I'm here by choice.
charlie
4:49 pm on Saturday, January 26, 2013
Manasquan, Love it or leave. John where exactly are you so we can fry your a$$ and toss it in the inlet?
Penn Cross
2:33 pm on Sunday, January 27, 2013
Prudent in spending? Never heard that before, even from those who are in favor of all the new projects. Over a million dollars for a building to sell beach badges in is crazy, no matter where the money comes from.