NEW BUDGET PASSES IN NORTH WILDWOOD WITH TAX RATE INCREASED

The tax rate went up in North Wildwood. A reassessment has dropped the value of many homes in the city and a higher tax rate is needed to make up for the drop in ratables. The increase comes in at 13 cents to a new rate of just over 60 cents. The tax levy isn’t increase, which is the amount of money raised by taxes. The town lost about $750,000 million in ratables. No layoffs are included in this budget. North Wildwood has not been hiring new employees, but has been reducing the workforce through attrition.