Ocean City Mayor Jay Gillian’s 2025 budget proposal calls for a spending increase of 5.5% and a local purpose tax rate hike of 7%. If approved, the tax rate increase would come on top of a 7.5% hike last year, making for a two-year jump of 14.5%.If the budget is adopted as presented March 27, the average assessed home at $645,000 would see the property owner paying an extra $242 in taxes for municipal purposes. Last year’s added tax on the average assessed home was almost identical, at $241.