47 percent tax increase possible in Atlantic City - KMSP-TV

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 This material may not be published, broadcast, rewritten or redistributed.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>>

  • Deadly crash in Lincoln Tunnel

    Deadly crash in Lincoln Tunnel

    Tuesday, September 2 2014 8:15 PM EDT2014-09-03 00:15:54 GMT

    Officials say a New Jersey man has died from injuries he suffered in a chain-reaction crash inside one of the tubes of the Lincoln Tunnel.  Port Authority of New York and New Jersey police spokesman Joe Pentangelo says the 49-year-old Summit resident was among three people hurt in the accident.


    Officials say a New Jersey man has died from injuries he suffered in a chain-reaction crash inside one of the tubes of the Lincoln Tunnel.  Port Authority of New York and New Jersey police spokesman Joe Pentangelo says the 49-year-old Summit resident was among three people hurt in the accident.



  • $1M Powerball ticket sold in NJ set to expire

    $1M Powerball ticket sold in NJ set to expire

    Tuesday, September 2 2014 2:23 PM EDT2014-09-02 18:23:45 GMT
    State lottery officials say a Powerball ticket worth $1 million that was sold at a northern New Jersey convenience store last year will soon expire.
    State lottery officials say a Powerball ticket worth $1 million that was sold at a northern New Jersey convenience store last year will soon expire.
  • Princeton worker told to choose medical pot or job

    Princeton worker told to choose medical pot or job

    Tuesday, September 2 2014 2:19 PM EDT2014-09-02 18:19:48 GMT
    A Princeton University employee says he has been told to choose between medical marijuana and his job.
    A Princeton University employee says he has been told to choose between medical marijuana and his job.
Powered by WorldNow

KMSP-TV
11358 Viking Drive
Eden Prairie, MN 55344

Phone: (952) 944-9999
Fax: (952) 942-0455

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