When introduced on March 27, the budget was $69,775,684.60, down from the proposed $72 million and from last year’s $71,983,050.55.
The tax rate is up 1.46 cents from last year, and the tax levy increased 2.57 percent, up to $44,793,202.78 from $43,672,664.48 from last year.
The levy in the proposed budget was 2.89 percent.
An Ocean City home assessed at $500,000 would see an annual increase of $73.
A council vote on adoption of the budget follows the hearing.
Prior to the hearing council will consider an ordinance to establish a cap bank for 2014.
Other ordinances up for second reading include revisions to the bulkhead ordinance, an ordinance allowing free beach access for veterans and a revision to the city’s general ordinances to add a minor site plan.
The consent agenda includes a resolution to award a contract for the installation of a track surface at Carey Field, which is used by the high school’s football team and the city’s soccer team, the Ocean City Nor’easters.
A resolution to award a contract for improvements to the 15th Street Playground is also among the items on the consent agenda.
To view the full agenda, visit ocnj.us.