By NANETTE LoBIONDO GALLOWAY
VENTNOR The Board of Commissioners Thursday, April 14 introduced its $52.8 million municipal budget with a slight increase in taxes, but with reductions in the school district tax rate and an estimated increase from the county combined, taxpayers will likely see no increase in taxes this year.
Auditor Leon Costello of Ford-Scott Associates of Ocean City called the budget rock solid.
Commissioner Lance Landgraf said increases in the cost of materials has been reflected in the budget.
The increase in the municipality's fund balance to $7.7 million shows good fiscal responsibility, Commissioner Tim Kriebel said. The city will apply $3.4 million in surplus to bolster the budget, leaving $4.3 million available for use in future years.
Costello said the sitting commission has built reserves since it came into office and called the increase in available funding a success story.
The city will raise $24,016,127 through taxation, which is $569,714 or 2.43% more than last year. The 2022 tax rate will be $1.146 per $100,000 of assessed valuation, up from $1.135 last year.
The city's total assessed valuation is $2.10 billion, up $30 million from last year.
The average taxpayer with a property assessed at $303,758 will pay $33.41 more for municipal services this year.
According to the budget breakdown, police salaries, wages and expenses are down $268,476, while firefighter salaries, wages and expenses are up $136,187.
Kriebel said revenue from parking meters and beach tag sales increased substantially. According to the budget, parking meters generated $166,913 in 2021, $78,000 more than anticipated, while beach tag sales increased to $437,426 up from the $290,000 the city anticipated it would receive in 2021.
A full presentation and public hearing on the budget will be held 5:30 p.m. Thursday, May 12.
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