NORTH WILDWOOD – North Wildwood City Council introduced its $34.5 million 2022 municipal budget, which brings with it a 2.3-cent tax increase for every $100 in assessed value.
Nic Long, the city’s deputy chief financial officer, said that part of the increase is a result of inflation. Inflation brings increased costs primarily to North Wildwood’s Public Works Department. Costs for gasoline, car parts, construction equipment, and other goods have increased significantly since last year’s budget, he said.
The city’s police department recently reached an agreement regarding police contracts, and those salary and benefit changes are reflected in the budget.
Overall, Long said that the budget remains largely stable and that there is not much new in this year’s overall expenses. The new taxes will go, in part, towards North Wildwood’s capital fund, which allows the city to finance its expenses and ultimately helps the city reduce its debt.
Costs associated with the annual beach replenishment were offset this year by Federal Emergency Management Agency (FEMA) emergency funds. FEMA provided $800,000 in emergency funds for the filling.
