Cape May City Council has introduced a $39.9 million municipal budget for 2024 that does not require any increase in the local purpose tax rate, the fifth year in a row the city has held the line on the rate. According to the Cape May County Herald, the general fund portion of the budget is proposed at $26.8 million. The city’s three self-financing utilities complete the budget, at $7.6 million for water and sewer, $4.2 million for the beach utility and $1.3 million for the tourism utility.
The budget, introduced Tuesday, April 2, has a roughly 9% increase in appropriations over the 2023 spending plan. It calls for using $5.9 million in general fund surplus as revenue.