WILDWOOD — On April 28, the governing body here introduced a $25.3 million 2010 municipal budget that asks local taxpayers to fund $19.37 million. Those figures are down nearly $2 million or 6.5 percent and $1 million or 5 percent respectively compared to last year.
As the budget stands, the tax rate would drop 2.15 cents from last year’s $1.11 tax rate to $1.089.
About 40 city employees received layoff notices.
Administrator Richard Deaney said the city lost $59 million of its ratable base and $212,565 in state aid. He also noted an increase in state pension payments of nearly $1 million after they were deferred last year as well as $142,500 in workers compensation increases.
Without the layoff plan and other actions the city has taken, it would have been an increase of between 10 and 14 cents, Deaney said.
He said the commissioners tasked him with bringing the city’s tax rate more in line with the tax rates in North Wildwood and Wildwood Crest.
“That’s the charge and vision given to me by these three commissioners and that was the rationale behind their efforts so far,” Deaney said.
