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Wednesday, May 22, 2024


Cape May City Budget Rises by $2.6M, but Tax Rate Stays Level

Cape May City Budget Rises by $2.6M, but Tax Rate Stays Level

By Vince Conti

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CAPE MAY – The City Council has adopted a $39.9 million budget for 2024 with no local tax increase. The local purpose tax rate will remain at $0.361.

The general fund portion of the budget was $26.8 million. The city’s three self-financing utilities complete the budget, at $7.6 million for water and sewer, $4.2 million for the beach utility and $1.3 million for the tourism utility.

The general fund portion of the budget relies on tax revenue for only 40% of total projected funds. That is the lowest ratio of tax dollars to total general fund budget revenues in the county.

The city entered 2024 with a general fund surplus of $14.6 million. The budget makes use of $5.9 million of that surplus to offset taxation.

The use of the surplus, along with an increase of $1.1 million in local revenues, allowed general fund budget appropriations to grow by $2.6 million with no impact on the tax rate.

Auditor Leon Costello told the council that the city is in strong financial shape.

Contact the reporter, Vince Conti, at


Vince Conti is a reporter for the Cape May County Herald.

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