Public Hearing On Proposed Budget With Tax Increase Thursday

OCEAN CITY, NJ — The public hearing and final vote on the proposed $78.8 million budget is set for Thursday night. Ocean City Council will meet at City Hall, 861 Asbury Avenue, at 7 p.m. on Thursday, April 23.

The proposed budget would raise the local tax rate by a penny. It was introduced on March 22, and was lower than the draft budget introduced earlier this year by about $1 million due to grants received by the city between the time the draft budget was introduced and the proposed budget was introduced.

The owner of a $500,000 home in Ocean City could expect to pay an extra $50 in municipal taxes in the upcoming year if the budget passes. This remains the same as the tax increase from the draft budget.

On a related topic, Ocean City Council will consider a proposed ordinance on second reading to exceed the municipal budget appropriations and establish a cap bank. This allows Ocean City to increase its budget up by 3.5 percent over last year's final appropriations, as opposed to the 2.5 percent cap, and bank the excess. This year, Ocean City would be permitted to bank $1,981,782.85, according to the agenda packet.

There are no other proposed ordinances slated for first or second reading. There are 20 items on the consent agenda. To view the full agenda visit ocnj.us.

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