NORTH WILDWOOD – City Council May 4 adopted a $33.3 million budget (https://bit.ly/3bfDrTE), whichincludes an almost three-cent tax rate increase.
The new local purpose tax rate would be 80.3 cents per $100 of assessed value, up from 77.5 cents, in 2020. In 2019, the tax rate was 74.5 cents.
“Our normal budget is incredibly stable. Without having to fund the shore protection, we would have zero to very minimal tax increases,” said Mayor Patrick Rosenello. “When you spend $15 million over five years, with the possibility of that continuing for a number of years, that money has to come from somewhere.”
Rosenello said borrowing the money would lead to lower taxes now but, in the long run, would end up costing taxpayers more money.
The council first introduced the budget in February, but its adoption was delayed on the advice of the city auditor, pending clarification of where Covid relief funds could be used within the budget.
While Mayor Patrick Rosenello said they weren’t sure where the relief money could be used, they did not want to wait any longer to adopt this year’s budget.
City Administrator Ron Simone said the city would get $360,000 in Covid relief, which would come in two payments over two years.
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