North Wildwood Taxes Drop

North Widlwood school-tax rate drops with reval
By TRUDI GILFILLIAN Staff Writer, (609) 463-6716
Published: Tuesday, March 14, 2006
Updated: Tuesday, March 14, 2006

NORTH WILDWOOD — The effect of this year's dramatic decrease in the school-tax rate will vary from house to house due to the city's recent revaluation.

The rate under the proposed 2006-07 school budget comes to 18.1 cents per $100 of assessed property valuation. Last year's school tax rate was 72.5 cents.

But School Business Administrator/Board Secretary Mary Ott said it is difficult to make comparisons to last year because of the town's new values.

“There's a lot of confusion in town,” Ott said, adding, “The whole town quadrupled (in value).”

The city's ratable base has topped $3 billion. Prior to the revaluation, it was valued at $866 million.

Ott noted that the school tax bill for a $100,000 house was $725 last year, which is about the same as the bill for a $400,000 home this year.

The amount to be raised by taxes, including money for the general fund and debt service, comes to $6.1 million.

Meanwhile, the actual budget comes to $8.9 million, an increase of $260,708 over the previous year.

It does not include any additional programs and provides for increases in salaries, tuition and other annual expenses.

The school estimates it will have 325 to 350 students next school year. On Oct. 15, 2005, there were 296 students, but that number has increased to 325 now, Ott said.

To e-mail Trudi Gilfillian at The Press:TGilfillian@pressofac.com