STONE HARBOR –– They’re rolling in it, according to Business Week magazine.
While the rest of the world hustles to make ends meet during a recession, borough residents have the distinction of living where Business Week recently named one of the wealthiest small towns in America.
With a year-round population of about 1,000, an average home sale price of $968,209 and an average household income of $51,471, the article noted, “Stone Harbor thrives as a resort community that can see its population rise to 20,000 during the summer.”
Resident Peter Swanda told borough council at its meeting Dec. 16 that, since the article came out, he has received many calls and emails from relatives and friends who are “all asking for money.”
The borough’s ratable property value increased by about $809 million as a property reassessment was completed Nov. 19.
Deputy Tax Assessor Margaret Slavin said the new reassessed value for the borough, as of Oct. 1, is $4,434,925,200, which takes effect January 2009.
The borough’s tax rate for 2008 was .529 cents per $100 of assessed value.
Contact Truluck at (609) 886-8600 ext. 24 or at: ltruluck @cmcherald.com.
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