WILDWOOD CREST – The commissioners introduced the borough’s 2025 budget, which shows a tax rate increase of less than one cent, on Feb. 19.
The $31 million budget would be supported by a .0096-cent tax rate increase, which would raise an additional $396,637 in local purpose taxes, an increase of 2.33%.
The total raised by taxation will be about $17.44 million, which is roughly $361,000 below the budget cap. The tax on a home assessed at $400,000 would increase $38 over last year’s figure.
Overall, the budget includes an increase in appropriations of close to $2 million over 2024.
The commissioners are applying $4.7 million from surplus to the 2025 budget, an increase of $1 million over 2024. The surplus is projected to remain at about $4.6 million.
There will be a public hearing on the budget on Wednesday, March 26, at 5 p.m.
Contact the reporter, Christopher South, at csouth@cmcmherald.com or 609-886-8600, ext. 128.
