The Wildwood Crest Board of Commissioners has approved a $28.5 million municipal budget for 2024 that includes a 1.5-cent tax rate increase. The Cape May County Herald reports the municipal tax rate will increase from 0.70 per $100 of assessed value in 2023 to 0.715 in 2024. The average assessment in town is $450,000, and the owner of such a home would pay an additional $66 in municipal taxes this year, for a total local purpose tax of $3,216, plus county and school taxes.
Municipal auditor Mike Garcia of the Ford Scott accounting firm said the borough will collect $17,044,609, or about an additional $509,000, in property taxes.