West Wildwood Proposes 2025 Budget with 5-Cent Tax Rate Increase

WEST WILDWOOD – The West Wildwood Board of Commissioners has introduced a 2025 municipal budget that includes a 5-cent increase in the tax rate, despite an overall decrease in spending. The total budget of $3.65 million reflects a reduction of over $276,700 compared to the 2024 budget. The tax rate increase, from $1.207 to $1.257 per $100 of assessed value, will result in an average tax increase of about $130 for homeowners with properties assessed at $261,000. This increase is partially due to a $70,477 decrease in state and federal grants. Municipal auditor Leon Costello noted that some of the lost grants could be replaced or acquired during the year, leading to adjustments in the budget. The borough plans to use $500,000 from surplus funds, $164,000 less than last year, and will continue efforts to reduce debt, lowering debt service payments from $960,739 to $599,130. A separate sewer utility budget of $983,750 has also been proposed, reflecting minimal changes from the previous year. A public hearing on the proposed budget will be held on April 4 at 7 p.m.