WEST WILDWOOD – The Borough of West Wildwood introduced its 2023 municipal budget March 3 and has provided the Herald with a copy of the budget, which includes a roughly 6-cent increase on the tax rate.
The 2022 local purpose tax was $1.146 per $100 of assessed value and would be $1.206 with the increase. The difference for a $300,000 home would be another $180 per year.
The borough will collect $2,703,413.21 through the local purpose tax and will raise revenues of $3,497,175 in 2023 and appropriate the same amount. That is an increase of about $186,000 over 2022.
Commissioner Joseph Segrest outlined some of the reasons for the increase over 2022, including spending another $71,000 for police wages. Commissioner John Banning said the increase in police salaries and wages was due to the change to all full-time officers.
The borough will see a minimal increase in state aid of $2,100, and it will increase its surplus from $310,000 in 2022 to $392,000 in 2023.
The borough’s tax collection rate is 98.14%.
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