Municipal State Aid For Red Bank, Shrewsbury Identical to Last Year

Red Bank, Shrewsbury Borough and Shrewsbury Township will be receiving the same amount of municipal state aid for the 2014 fiscal year as they did last year.

Governor Chris Christie recently announced that municipal state aid funding for all New Jersey towns would remain flat.

“This preserved funding means no town in Monmouth County will see a decrease in formula municipal aid for the upcoming year," Christie said in a news release. "It also demonstrates that providing stable, predictable levels of municipal aid to support local governments and taxpayers is a core priority of my Administration."

The release states that the 2012 statewide average property tax increase was just 1.4%, the lowest in 24 years.

The following is the municipal state aid the municipalities will receive for the 2014 fiscal year.

Red Bank: $2,011,681

Shrewsbury Borough: $381,641

Shrewsbury Township: $85,903