During an overview of his proposed 2024 budget, Mayor Small announced a 10-cent decrease in the Tax Rate for Atlantic City residents in 2024, marking a fifth straight tax decrease under the Small administration. Once the Atlantic City School Tax Rate is announced, Atlantic City residents can expect an even larger decrease in their Tax Rate.  The proposed budget calls for sustained increases for non-uniformed city employees, totaling $4,500 effective July 1, 2024. For the first time in ten years, there is an increase in Atlantic City’s ratable base. The proposed budget has no one-time revenues and a sustainable use of surplus. It provides $14,657,000 in funded capital projects with no debt to be issued.

 

“While tax increases are common these days, they keep going down in the great City of Atlantic City,” said Mayor Small. “From a financial standpoint, the City has come a long way under the Small administration. Long gone are the days of the City having spending and revenue problems. We are going to continue to demonstrate fiscal responsibility, while making smart and aggressive decisions to benefit the taxpayers and employees of Atlantic City.”

 

Mayor Small’s proposed budget will next be presented to City Council.