NORTH WILDWOOD – The City of North Wildwood is proposing a 2018 budget of $29.575 million which represents a $10,300 decrease from the 2017 budget of $29.585 million.
The municipal tax rate will raise from $0.7080 cents per $100 of value in 2017, to this year’s .7174 cents, a .0095-cent increase over last year. The percentage increase will be 1.34 percent.
The typical North Wildwood homeowner with a house assessed at $100,000 can expect a $9 increase in the local tax rate in 2018.
The new tax rate will raise approximately $18.6 million for the city, compared with $18.26 million raised in 2017, representing an increase in tax revenues of $345,950.
The proposed budget projects that the city will receive $81,506 in state and federal grants in 2018, as compared with $479,207 in 2017, which helps explain the reduction in total revenues.
Todd Burkey explained that the grant money reduction was based on what grants they know about at the time of the proposal, and not the potential for grants to be received later in the fiscal year.
A public hearing on the proposed 2018 budget will be held March 20, at 5 p.m. at City Hall, Ninth and Atlantic avenues for residents to learn more.
In a release, Mayor Patrick Rosenello announced that the budget would fully fund all departments and make infrastructure improvements.
“Our city employees are the backbone of the operation that keeps North Wildwood moving forward,” stated Rosenello. “This budget provides for fully staffing and funding our departmental salary and wages, and operating expense budgets in the most efficient and cost conscious manner possible.”
The budget also includes funding for major capital improvements, including the completion of the street reconstruction along Ocean and Surf avenues, bulkhead replacements at 14th and 15th avenues, as well as an extension of the seawall from its current terminus at Second Avenue south to Fifth Avenue.
Work will also commence on a major flood mitigation project along New Jersey, Old New Jersey, Central and Spruce avenues that will help maintain a critical evacuation route off of the island and out of North Wildwood during severe flooding events.
“North Wildwood is the oldest municipality on the island and, as such, our infrastructure is continually in need of upgrading and replacement,” stated Council President Sal Zampirri. “Working with our financial professionals, we are very proud of the aggressive capital improvement plan we have been able to complete, all the while maintaining a stable and low tax rate and average property tax bill.”
With this budget, North Wildwood is almost certain to maintain its status as the beach front municipality in New Jersey with the lowest average property tax bill, the release stated.
“Our elected and professional staff works each and every day to achieve goals that are in the best interest of our residents, property owners and visitors,” stated Rosenello. “This budget is the manifestation of that dedication and I am thankful to our team for continuing to work to move North Wildwood forward.”
To contact Jim McCarty, email jmccarty@cmcherald.com.
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