(Atlantic) The Atlantic City Council unanimously approved the fiscal year 2013 budget at a special meeting Wednesday.
The is a slight increase in taxes with the lion’s share attributable to two funds: First, the T & A Employees Benefits Fund will increase $0.33 due to significant increases in health insurance premiums, and a 30-percent increase in the cities Worker’s Compensation Insurance due to the city’s experience modification rates. The second contributing factor is the increase of $2.26 in the debt Service tax levy.
Atlantic City Administrator Doug Harris said they made an adjustment to the Park and Recreation budget because the school district has agreed to pay their share of $88,000 to fix the Sunnyside Tennis Courts in two installments.
Harris said, "The school is going to pay $44,000 in 2013 and $44,000 in fiscal year 2014, so we are going to have to upfront half of their half for $44,000."
Under the 2013 budget a property tax payer with a house valued at $100,000 can be calculated as follows: $100,000 x .507 (rollback) x $0.62/1000 equals around a $31.00 tax increase for fiscal year 2013.
A public hearing on the budget is scheduled for March 7.
February 23, 2012
6:00 a.m. newscast