Margate, Ventnor and other Atlantic County residents will likely help bail out Atlantic City, via a substantial tax hike later this year. Atlantic County Executive Dennis Levinson was not happy with the news. Neither were most of the mayors in Atlantic County.
As Atlantic City Mayor Don Guardian shared the news of a proposed tax reduction on Tuesday April 11, he neglected to also share the bad news.
During the first reading of a proposed 2017-18 AC municipal budget, Guardian revealed he doesn’t want to share a previously agreed upon 13.5 percent of casino payments with the County. Instead, the Mayor only wants to give the County 10.4 % of casino taxes.
What that means: An Atlantic City homeowner with a $200,000 home, could pay $200 less in municipal taxes but they would also see a $200 increase in their county tax bill.
NJ Gov. Christie commented on the budget: “It took us merely a few months to lower (AC) property taxes for the first time in the past decade, when local leaders shamelessly spent beyond their means to satisfy their special political interests.”
If the proposed AC municipal budget gets approved, the move will collectively cost Margate, Ventnor, and Atlantic County taxpayers $40 million over the next decade.
According to the Press of Atlantic City, Assemblyman Chris Brown said “Atlantic City’s budget should not be balanced on the backs of Atlantic County taxpayers.”