WEST CAPE MAY — Borough Commission introduced its $3,839,238 municipal budget March 12 with no increase in the local purpose tax rate, which will stay at 43.1 cents per $100 of assessed value.
The local purpose tax levy will increase $30,000, or 1.3 percent, to $2,335,221. That is a smaller increase than the previous year’s increase of $49,000, or 2.1 percent.
The borough’s assessed property value has increased $7 million, or 1.3 percent, to $542 million.
The 2025 proposed budget uses $680,000 of surplus funds of an available $1.5 million, leaving a $822,475 balance.
Salaries and wages are up $24,800, or 3.2 percent, to $758,850.
“Due to the fact that we have close to $7 million in increased ratables this year, we’re able to keep the tax rate flat at a 0% increase, which is great news,” auditor Leon Costello said.
Costello said the overall municipal budget increased to $1.5 million, which was a $3,780 increase.
By JULIA DIGERONIMO/For the Star and Wave
