Urging TC to Share PILOT Revenue With BOE
Holmdel Township Committee
URGENT
Urge Holmdel Township Committee to Share PILOT Revenue with the School District
Due to significant increases in insurance, employee benefits, and transportation costs, the Holmdel School District is facing a dire budget crisis, with an estimated $4–6 million deficit. Without immediate action, the district may soon be forced to take drastic measures, including:
- laying off teachers
- outsourcing paraprofessionals and custodians
- eliminating courtesy busing
- program reductions
- raising property taxes yet again
At the same time, the Holmdel Township Committee collects approximately $7.5 million annually from the Bell Works PILOT program. Under state law, the Township retains 95% of PILOT payments, the county receives 5%, and the school district receives zero—even though 68% of property taxes normally support the school district. The Township Committee has also recently approved a new PILOT agreement for the Vonage redevelopment.
PILOT revenues have allowed the Township to increase its spending by $7.4 million over the past five years and grow its surplus from $3.5 million to $8.2 million, while the school district faces severe cuts that directly impact students and families.
Other municipalities have acted to protect their schools. On January 30, 2026, NJ.com reported that Hackensack’s City Council transferred $6.5 million in emergency funds to its school district to address a deficit. That transfer represented 30% of the city’s $21.8 million budget surplus.
Holmdel residents overwhelmingly support similar action. A November 2025 community survey
- 77.3% support sharing at least 30% of PILOT revenue with the school district
- 89% support a public referendum allowing residents to decide whether PILOT revenue should be shared with the schools
Most families choose Holmdel because of its excellent schools. If this budget crisis continues, students will suffer, educational quality will decline, and the township’s reputation—and property values—will be at risk.
Some actions could be taken as early as a few weeks and may be hard to reverse. The BOE must adopt and file the tentative budget with the state by March 20, 2026.
We need the Township Committee to take action NOW to help save our school district.
Call to Action
Please sign this petition urging the Holmdel Township Committee to adopt a resolution or ordinance establishing a shared services agreement that directs at least 30% of annual PILOT revenue to the Holmdel School District.
Alternatively, the Township Committee should place a public question on the ballot allowing residents to decide whether a substantial share (30% or more) of all PILOT revenue should be dedicated to our school district.
Please share this petition after signing.
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3. Holmdel Speaks: 94% Say PILOT Money Should Support Our Schools
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To:
Holmdel Township Committee
From:
[Your Name]
We, the undersigned, urge the Township Committee to enter into a shared services agreement with the Holmdel school district to be able to direct a substantial percentage (30% or more) of the annual PILOT revenue that it receives.
The Township Committee currently collects about $7.5 million annually in payments from the Bell Works PILOT program. Under state law, the Township keeps 95% of the PILOT payments, the county gets 5%, and the school district gets zero, even though 68% of property taxes normally go to the school district. The Township Committee also recently agreed to a new PILOT program for the Vonage redevelopment.
The PILOT payments the Township received have allowed it to increase its spending by $7.4 million over the last five years and grow its surplus from $3.5 million to $8.2 million.
Due to significant cost increases in insurance, benefits, and transportation, the Holmdel school district is now struggling with a dire budget crisis with an estimated deficit of $4 - 6 million that could lead to drastic actions soon that may include:
• laying off teachers
• outsourcing paraprofessionals and custodians
• eliminating courtesy busing
• program reductions
• raising property taxes yet again
A community survey conducted in November 2025 with 145 responses indicated 77.3% of the respondents support that at least 30% of PILOT receipts should be shared with the school district.
Other municipalities have acted to protect their schools. On January 30, 2026, NJ.com reported that Hackensack’s city council is transferring $6.5 million in emergency funds to the municipality’s school district as it struggles with a deficit. The emergency money will come from the city’s $21.8 million budget surplus. This equates to 30% of the surplus.
For all the reasons above, we urge the Township Committee to immediately start the process for a shared services agreement to direct at least 30% of the annual PILOT revenue receipts to the Holmdel school district.
Alternatively, the Township Committee should put forth a public question to let Holmdel residents decide whether a substantial share (30% or more) of all PILOT revenue should be dedicated to our school district.
89% of the respondents also said yes to a public referendum allowing Holmdel residents to decide if PILOT revenue should be shared with the school district.
Thank you for your attention to this urgent matter.