Ocean City to Vote on $71 Million City Budget

City Council will hold a public hearing on its proposed $71 million 2013 muncipal budget before voting to adopt it.

The hearing will be part of the public City Council meeting at 7 p.m. Thursday (May 16) at the Ocean City Free Public Library.

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See a copy of the complete 2013 introduced budget (also attached to this story as a PDF).

Read more about City Council's budget discussions.
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The proposed budget asks local taxpayers for just 1 percent more in 2013 than in 2012.

Gillian's administration in February had proposed a budget of $70,888,450 represents a $2.2 million (or 3.17 percent) increase over last year's $68.7 million budget. But because projected local revenue (largely from parking, construction code and Aquatics and Fitness Center fees) increases by $2 million, the draft budget increases the tax levy ($43.7 million for 2013) by just $458,000 (1.06 percent).

While Ocean City taxpayers on average will pay just 1 percent more in taxes next year, who pays more and who pays less will depend on whose property assessments were changed. Through tax appeals, storm-damage reassessments and a regularly scheduled program of reassessments to select areas, Ocean City's ratable base fell by 6.96 percent. The proposed tax rate climbs by more than 8 percent.

Owners whose properties were reassessed (on average) will pay less in taxes (as the decrease in their property value will more than offset the rate increase). But owners whose properties were not reassessed will pay more in taxes.

Ocean City's overall ratable base falls from $12.2 billion to $11.3 billion.

The overall tax bill for Ocean City property owners also includes school taxes and county taxes.

See Also: Five Things to Know About Thursday's City Council Agenda