Atlantic County’s property values declined about 6.2 percent in the last year, largely driven by Atlantic City’s continuing fall, so the county tax rate will increase more than anticipated.
County Administrator Jerry
DelRosso said Tuesday that Atlantic County’s ratable base is down to
$36.5 billion from $38.9 billion last year, according to figures he’s
seen from the county tax administrator’s office.
As values go down, the tax rate must increase to raise the same amount of money.
The tax rate on the county’s $201
million 2015 operating budget, introduced in January, will likely
increase about 3.9 cents per $100 of assessed property value, rather
than the .23 cents predicted two months ago, DelRosso said.
The rate will go from 40.1 cents per $100 in 2014 to 44 cents this year, he said.
Entire article at
http://www.pressofatlanticcity.com/communities/absecon_galloway_port-republic/atlantic-county-tax-increase-bigger-than-planned/article_c14fc28c-c1f2-11e4-89f9-1bf9831b6a2b.html
Entire article at
http://www.pressofatlanticcity.com/communities/absecon_galloway_port-republic/atlantic-county-tax-increase-bigger-than-planned/article_c14fc28c-c1f2-11e4-89f9-1bf9831b6a2b.html
2 comments:
The county needs to cut spending, period. The tax and spending ways of Atlantic County must stop. The patronage and high paying jobs given out to family members and friends of politicians and leaders is no longer affordable.
We must stop electing compromised leaders who are only interested in themselves and their families. iI the value of the property has been devalued by 20%, the spending also needs to decrease by 20%.
Not one branch of government is willing to do any decrease or serious cuts to budgets. They rather go in debt and/or increase taxes. So many folks are on the benefit doles that there would be a massive ugly revolt .
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