WILDWOOD – Mayor Ernie Troiano Jr. said the $42 million budget’s adoption by the city commissioners April 9 was the earliest he could remember a budget’s being approved.
“We’ve never had a budget completed this early,” Troiano said.
Under the 2025 budget the municipal tax rate will rise by 2.9 cents, from $1.612 to $1.631 per $100 of assessed value. The owner of a house assessed at $225,000, the city average, would pay an additional $23 in taxes for city purposes.
Auditor Harvey Cocozza Jr., of Ford, Scott & Associates, outlined the budget for the commissioners and a sparse audience.
Cocozza pointed out some of the larger areas of spending, including public safety, which at just over $13 million is nearly 31% of the budget; the revenue and finance department, at close to $8 million and 18.73% of the budget, and public works, at 12.72% of the budget, about $5.3 million.
He said the city’s insurance costs were 14.6% of the budget.
Troiano said the city funds a lot of functions that other towns do not.
Commissioner Krista McConnell noted that Wildwood has the highest tax rate in Cape May County, saying it was not something she was proud of, but also something the commissioners are very cognizant of.
Cocozza said Wildwood’s total assessed value increased by $22.6 million from 2024, and by more than $53 million since 2021.
The city will raise $23,723,922 from local property taxes in 2025, or about 56% of the budget revenue. The projected surplus will be $5,155,620, of which about $2.9 million will be used to support the new budget.
Contact the reporter, Christopher South, at csouth@cmcherald.com or call 609-886-8600, ext. 128.
