NORTH WILDWOOD — For every $100 of their property’s assessed value, homeowners here will be paying two pennies more in municipal taxes.
On April 20, North Wildwood City Council introduced a $24.3 million 2010 budget that included a $16.5 million tax levy, the portion of the budget collected through taxes, which was up from last year’s $15.9 million.
The city’s tax rate climbed 2.1 cents from 45 cents last year to 47.1 cents this year. Property owners will pay $471 per $100,000 of assessed value compared to $450 or $21 more than last year.
City Administrator Raymond Townsend said the overall budget was up 2.16 percent over last year with salaries and wages rising 1.96 percent and operating expenses up 2.27 percent.
He noted that over $600,000, or 80 percent of the budget increase, was from things out of the city’s control.
Townsend noted major increases in: insurance costs, $152,000; utilities, $75,000; pensions, $35,000; and debt service, $476,000.
“The city also lost $124,000 in aid from the state,” Townsend told the Herald.
He said the city has been proactive in trying to reduce the costs associated with running the city, noting the elimination of some department head positions and reducing the number of city employees over the past several years from about 115 to 106.
Because of the city’s actions, North Wildwood has not had to address more drastic actions such as layoffs or furloughs that other Cape May County communities have used. Townsend said, however, the city was currently in negotiations with two of its employee unions and seeking concessions given the state of the economy.
A public hearing on the budget is scheduled for 10 a.m. May 18 during the regular City Council meeting at City Hall.
Contact Hart at (609) 886-8600 Ext 35 or at: jhart@cmcherald.com
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