At Wednesday’s regular meeting City commissioners introduced a $23.9 million budget, it includes a tax increase of just under one and a half cents and about $4 million less than last year.
Mayor Ernie Troiano Jr. said “I’ve been in office since 1999 and this is the earliest budget I’ve ever approved,”
A $30 million drop in ratables is one of the main causes for the tax increase While the city plans to collect about $94,000 less in taxes this year,, Pete Bryon, finance commissioner said. That drop came from tax appeals brought by property owners.
Rising cost of health care and contractual pay increases were also cited as reasons for the tax hike.
The average property in Wildwood is assessed at $222,926, the average tax payer will see an increase of about $35 in local taxes for the year.The local purpose tax rate will be about $1.09 per $100 of assessed value.
Beach bar and festivals, are not included in the city’s budget.
The city plans to spend about $289,000 less on salaries and wages than in 2012.
The city also plans to see an increase in parking revenue. In February, the commission passed a resolution upping the cost of parking in the city. This summer, a quarter will buy seven and a half minutes at a meter. Last year, a quarter bought 10 minutes.