SOMERS POINT — The tax rate is set to increase 1.7 cents per $100 under the $18,885,378 budget City Council introduced March 24.
City auditor Leon Costello presented the spending plan, which includes a $230,171 increase in the tax levy to $11,629,735.
The local tax rate will increase to $1.025 per $100, or $1,025 on each $100,000 of assessed value. That amounts to about $34 more annually on a $200,000 home.
State aid and federal grants are up more than $1 million to $1.67 million, with plans for part of the money targeted at improving the historic Bay Avenue district and opening a farmers market at Somers Mansion.
Under appropriations, salaries and benefits are up $315,550, or 4.7 percent, to $6.97 million, the single largest line item.
The city was helped by an increase in total taxable property, known as ratables. It realized an increase of $3.7 million, or .33 percent, to $1.134 billion.
The city enjoyed an incredible 99.19 percent tax collection rate. Calculated at 97 percent for budgeting purposes, the extra helped boost the surplus.
The city must fund the school budget and county budget at 100 percent regardless of how much it collects, which is why it annually keeps a reserve for uncollected taxes.
Surplus is up this year by $371,000 to $2.863 million, an increase of 16 percent. The city will use $2.685 million, leaving $178,112 in reserve.
Costello said the city could increase spending and raise taxes more, being well situation beneath the budget caps. The city is $292,113 below the 2 percent tax lev cap.
The spending plan was approved and now will be subject to a public hearing and final vote set for a meeting in April.
Cannabis survey
In other business, the city has a survey on cannabis business available on its city web site, somerspointgov.org. City Council is gathering information on whether residents would like such businesses to operate in the city, what types of businesses they would like to see and other factors.
Business Administrator Jason Frost reported that residents were asking that it be made interactive so they do not need to print and mail the responses. He said they are trying to make that happen.
Mayor Jack Glasser announced several upcoming events, including two events marking the 40th anniversary of “Eddie and Cruisers,” which was partially shot in Somers Point.
A kickoff concert is scheduled for 7 p.m. April 22 at the Veterans of Foreign Wars Post 2189 at 500 Bethel Road. Then, on May 27, the film will be shown on the big screen at Gateway Playhouse on Bay Avenue.
By CRAIG D. SCHENCK/Sentinel staff
