Freeholders Introduce $142.1-million Budget; Rate Hike Less Than Half Cent

CREST HAVEN – Falling ratables will impact the county’s tax bill this year. Freeholders introduced the 2015 county budget Jan. 27 that is $142.1 million, up from $139.1 million last year. Translated to a nearby wallet, the tax rate increase is under a half cent, and the levy is a 2.2 percent increase. A public hearing will be Feb. 24.
“Keep in mind that this tax rate increase is partially attributable to the continued loss of ratables,” said Freeholder Director Gerald Thornton in his budget message read at the Jan. 27 meeting. The average taxpayer will pay $215 per $100,000 of assessed value to support the county government.
Thornton said, “Ratables are showing a slight increase for 2015, hinting at being a favorable indicator for the county. However, over the last five year period, the county lost over $8.1 billion in ratables, an approximate 15 percent reduction in the ratable base. These factors all impact the 2015 budget.”
He noted that in 2007, realty transfer fees collected by the county clerk’s office totaled $5.7 million. That amount declined to about $3.9 million in 2011. After seeing an increase of over $700,000 or 18 percent in 2012, which translated into $4.7 million, revenues from those transfer fees leveled off at about $4.3 million in 2014.
Paltry interest of $52,000 earned on county investments did little to aid revenues.
Total operating expenses for the budget are $73.4 million, a 4.7 percent increase, said Thornton. Total salary and wages remained at $45.3 million, a level he termed, “Flat.”
Amount to be raised through property taxes to support the budget will be $101 million compared to $98.3 million in 2014. The amount of revenue other than property tax to support the budget is $41 million.
Use of $9 million from $17 million in surplus means use of about 52 percent of that available.
Thornton said the county’s tax rate remains one of the state’s lowest. It complies with the state’s 2 percent cap. He also cited reaffirmation of the county’s bond rating Aa1 by Moody’s Investors Service. He noted, “Which not only validates the county’s fiscal management procedures, but allows for reduced costs in borrowing.”
Thornton lauded county employees, “They are kind and efficient individuals who understand the daily struggles of many and are concerned for the well-being of our citizens.” Provision of health services last year meant administering over 2.000 free flu shots and hundreds who took part in programs and wellness clinics provided by the Health Department’s staff.”
In the realm of public safety, Thornton said additional staffing at the Prosecutor’s Office is necessary to ensure the safety and security of the residents and visitors to the county.
Looking toward economic development initiatives, Thornton cited redevelopment at the county airport. “Our county is scheduled to become the site of a historic first campaign of UAS (unmanned aerial system) flights aimed at testing unmanned vehicles for commercial use sometime in the near future,” he said. That could be as near as Jan. 29-30 if weather is suitable for a trial at the Cape May Coast Guard Training Center.
For those who may wish to inspect the budget, Thornton said it will be available on the county website: www.capemaycountygov.net.