Taxes will be going up in Cape May County. The Freeholder board passed a budget on first reading on Tuesday that included a tax increase that was just over one cent per $100 assessed value. An average taxpayer will pay $204 for $100,000 of property assessment. Cape May County’s tax rate remains the lowest of any county in the State of New Jersey.
The introduced county budget for 2013 is $138.3 million compared to the adopted 2012 budget of 139.1 million. The county tax levy rose from $94.6 million to $96.4 million. Balancing the budget uses $10 million of the county’s $18.9 million surplus.
