Will Real Estate Revenue Surplus Lower Margate Taxes?

margate mayor becker real estate taxes
Margate Mayor, Mike Becker

With all that Margate real estate revenue surplus, why no tax relief?

That simple question came from the public comment portion of Margate’s recent Commission meeting on Sept. 15, 2022.

$50 million in new ratables last year. This year, it’s even more. Where’s all that new tax revenue going?

Maury Blumberg Margate

Margate Commissioner of Finance, Maury Blumberg

Listen to audio: Mayor Becker and Commissioner Amodeo struggle with explanation.

Margate’s Commissioner of Finance, Maury Blumberg, provided no comment.

LISTEN> Margate Commission. Sept 15, 2022.

Margate Business Administrator Rich Deaney says latest assessment numbers will be released on OCT 1.

Expectation is exceeding last year’s $50 million in new ratables. This is record breaking.

Margate Business Admin Deaney

Record Breaking Assessments

See Philly Inquirer article about Margate Over-Development.

We have owned our beach bungalow since the 1950s as were many of the homes on our block. Homes were passed down from parent to child, family memories as well as Margate’s history were created. That history going forward will look different. So many of the landmark homes are now gone with oversized, over-engineered rebuilds that are poor replacements. Margate’s once open and airy quaint streets now feel oppressive and congested.

https://www.inquirer.com/newsletters/shore/down-the-shore-newsletter-margate-shoobie-20220818.html

3 thoughts on “Will Real Estate Revenue Surplus Lower Margate Taxes?”

  1. Margate is heading down the same path as Atlantic City as far as development goes. The once regal houses of AC are now pretty bleak. Soon Margate be overcrowded and miserable. Crime will start, if it hasn’t already. The smart ones will move on to the next town before property values crater.

    1. So when are you moving, Chicken Little? What a lame comparison you’re trying to make. Where are the housing projects and areas with drug issues in Margate? Where are the casinos and amusement parks on the boardwalk? I exactly.

  2. Margate pays more in county taxes because their assessment/ true value ratio is less than 100% and has been declining ever since the new assessor took office.

    Margate has had over 35m added assessments for the last 7-8 years.

    Margate was ordered to do a revaluation, what ever happened to the order?

    Margaret S.

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