SOMERS POINT — “As mayor, I am absolutely thrilled with this budget. We don’t lose any city services and it takes care of this year and the vision for the next five years,” Mayor Dennis Tapp said April 25 as City Council adopted its 2024 spending plan.
The $19,381,816 budget, down $779,754 from 2023, increases the tax levy by $91,871 to $12,801,124. It also raises the municipal tax rate 1.47 cents to $1.1237 per $100 of assessed value. That amounts to an increase of $31.25 on an average assessed home of $212,587, for a total municipal tax bill of $2,388.84.
The Somers Point school tax rate increased 5 cents from 98.74 cents to $1.0375 per $100 of assessed value. That equates to a tax bill of $2,205.80 on an average assessed home, an increase of $122.80 for the year.
In addition, the Mainland Regional High School Board of Education adopted its budget the same night, calling for a 1.1-cent increase for Somers Point to 75.4 cents per $100 of assessed value. That equates to $1,602.90 on an average assessed home.
Therefore, Somers Point taxpayers will see an average tax bill of $6,197.54 not including the county tax.
The city has $3,662,790 in surplus funds, up $841,401 to $3,662,790 and will use $2.8 million to fund the budget, leaving $862,790, up $741,401.
Meanwhile, the total assessed value of taxable properties fell $7,226,500 to $1,139,176,000.
The city is $144,496 below the spending cap and $761,095 below the tax levy cap.
Last year, the city increased the tax rate 8.36 cents to $1.11 per $100 of assessed value. The increase amounted to $83 on every $100,000, or about $166 on a $200,000 home.
The municipal tax rate has increased nearly 30 cents, or 36 percent, since 2014, when it was 83 cents per $100.
Auditor Leon Costello said the state has reviewed the budget and made no changes.
“We had one of the ugliest budgets last year but we’re back to stabilized again,” he said. “It’s a budget you should be very happy with.”
“I would like to thank Mr. Costello and the administrative staff and department heads for working so hard to make the budget committee operation very easy,” Councilman Howard Dill said.
“The CFO and business administrator really sinked their teeth into this,” Councilman Sean McGuigan added. “It’s never easy but we are getting better at it.”
City Council President Janice Johnston said the help of the professionals was invaluable. “We do have a lot of good guidance with our administration and Mr. Costello.”
They make us understand what we have to do, what we can do, what we can’t do,” she said, noting they started very early this year and should do so in the future.
– By CRAIG D. SCHENCK/Sentinel staff
