47 percent tax increase possible in Atlantic City - MyFoxAustin.com | KTBC Fox 7 | News, Weather, Sports

47 percent tax increase possible in Atlantic City

Posted: Updated:

ATLANTIC CITY, N.J. (AP) - Atlantic City's new mayor says property owners there may be facing a 47 percent tax rate increase.

Mayor Don Guardian issued the warning Wednesday when he introduced the city's proposed $262 million budget. He said the city will seek $20 million in transitional aid from the state to help reduce the tax hike, but he warned there was no guarantee that the city would receive any of that funding.

The Press of Atlantic City reports the spending plan is about $5.5 million more than last year's budget. But Guardian also noted that the city ended last year $10 million in the hole.

As introduced, the budget would raise the local-purpose tax rate by 65 cents, with 61 cents of that directly related to the city's decreased property values.

Information from: The Press of Atlantic City (N.J.), http://www.pressofatlanticcity.com

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • New Jersey NewsNew Jersey NewsMore>>

  • Man stabbed ex 84 times, put pig mask on her

    Jury: Man stabbed ex 84 times, put pig mask on her

    Wednesday, July 23 2014 2:10 PM EDT2014-07-23 18:10:40 GMT
    Jurors have found a New Jersey man who stabbed his ex-wife 84 times and covered her face with a Halloween pig mask guilty of murder.
    A New Jersey man has been convicted of fatally stabbing his ex-wife 84 times and covering her face with a pig mask.
  • Fortune 500 firm Sealed Air moving HQ to Charlotte

    Fortune 500 firm Sealed Air moving HQ to Charlotte

    Wednesday, July 23 2014 12:01 PM EDT2014-07-23 16:01:51 GMT
    North Carolina has convinced Fortune 500 packaging company Sealed Air Corp. to move nearly 1,300 jobs to the Charlotte area by relocating its New Jersey headquarters and consolidating management operations from...
    North Carolina has convinced Fortune 500 packaging company Sealed Air Corp. to move nearly 1,300 jobs to the Charlotte area by relocating its New Jersey headquarters and consolidating management operations from several...
  • Blaze engulfs commercial building in NJ

    Blaze engulfs commercial building in NJ

    Wednesday, July 23 2014 11:29 AM EDT2014-07-23 15:29:00 GMT
    A two-alarm fire broke out in a commercial building in New Jersey on Tuesday. The fire erupted on Bergen Boulevard and 12th Street in Palisades Park. SkyFoxHD was over the scene as heavy smoke poured out from the building. It is not clear what sparked the fire. No injuries were reported.
    A two-alarm fire broke out in a commercial building in New Jersey on Tuesday. The fire erupted on Bergen Boulevard and 12th Street in Palisades Park. SkyFoxHD was over the scene as heavy smoke poured out from the building. It is not clear what sparked the fire. No injuries were reported.

Powered by WorldNow

KTBC FOX 7
119 East 10th Street
Austin, TX 78701

Phone: (512) 476-7777
Fax: (512) 495-7001

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices