Over the past several weeks, I’ve pointed out that Ventnor’s spending has grown at a faster rate than our neighboring community of Margate.
I have also discussed how the City could have reduced the burden on taxpayers—particularly many of our senior citizens—by increasing the percentage of surplus used in this year’s budget and by selling the Ventnor Avenue properties earlier in the year so those proceeds could have been applied to the 2026 budget rather than being reserved for future years.
Today, I would like to highlight another issue that deserves public attention: Ventnor’s debt level.
According to the City’s most recent Annual Debt Statement, Ventnor’s debt as of December 31, 2025, was approximately $97.8 million. I believe that is the second-highest municipal debt level in Atlantic County, behind only Atlantic City.
Margate’s debt at the end of 2025 was approximately $88.6 million—about $9.2 million less than Ventnor’s.
Ventnor’s debt is roughly 10.4% higher than Margate’s.
The impact of that debt can be seen in our annual debt service payments.
Including municipal, utility, and school debt, annual debt service has increased from approximately $6.18 million five years ago to approximately $7.92 million today—an increase of more than $1.73 million, or 28%.
Funding for Ventnor Boardwalk Repair.
This becomes even more important when considering future boardwalk repair costs.
First, I want to commend City officials and staff for their commitment to preserving one of Ventnor’s most valuable assets. The boardwalk is a source of pride for our community, and I believe most residents support investing in its protection and restoration.
The City and grant writer Jim Rutala also deserve recognition for securing approximately $7.1 million in grant funding toward a project estimated at $10.9 million. That funding significantly reduced the cost to local taxpayers.
Ventnor boardwalk—Fishing Pier to Fredericksburg Ave requires reconstruction too.
Given New Jersey’s current financial challenges, there is no guarantee that future grant programs will be available.
Ventnor taxpayers could ultimately be responsible for an additional $10 million to $15 million in costs. If financed through borrowing, that could push the City’s debt well beyond the $100 million mark.
I recognize that many worthwhile projects have been financed through bonding, and some level of debt is unavoidable. However, when Ventnor’s debt exceeds that of most surrounding communities, it raises some important questions:
- Is it acceptable for Ventnor’s debt to be significantly higher than neighboring municipalities?
- Is Ventnor taking on more projects than its financial resources can comfortably support, and could some projects have been delayed, scaled back, or approached differently?
These are not criticisms for the sake of criticism. They are questions that deserve thoughtful discussion because debt decisions made today will affect taxpayers for many years to come.
What are your thoughts?
I want to thank all of you who have reached out to tell me how informative my posts have been.
Michael Bagnell
There is “good debt” and “bad debt”. Good debt is to cover necessary projects; eg. If your roof leaks like a sieve and you can’t afford to replace it out of your pocket, then you have to borrow the money. Bad debt is to pay for unnecessary projects; eg. if you want to change the color of your house, but can’t afford to pay for it, you wait until you can afford to do so. Knowing what projects this debt has grown for would be helpful in determining if it is “good debt”, or “bad debt”.