Mantoloking storm damage ups tax rate, lower bills

Superstorm Sandy

Mantoloking storm damage ups tax rate, lower bills

Posted: Updated:

By WAYNE PARRY | AP

MANTOLOKING, N.J. (AP) — Fears of a massive tax hike brought on by Superstorm Sandy might not come to pass in the Jersey shore town hardest hit by the storm.

Mantoloking introduced a budget Monday that calls for a 14.6 percent increase in the municipal tax rate. But since the storm lowered property values in the devastated town and there's been an influx of storm recovery aid, most tax bills will actually be lower this year.

The budget calls for $5.6 million in spending, up from just over $4 million last year.

But the average tax bill will actually be 23 percent less than last year, because property values have fallen by about a third due to storm damage.

Every one of Mantoloking's 521 homes were either damaged or destroyed by Sandy.

  • New Jersey NewsNew Jersey NewsMore>>

  • Repaving of Palisades Parkway begins

    Repaving of Palisades Parkway begins

    Monday, July 21 2014 10:42 PM EDT2014-07-22 02:42:19 GMT
    Crews have begun repaving along the Palisades Interstate Parkway. The last time such work was done on the road, which links New York state to the George Washington Bridge, was the mid-1990s.
    Crews have begun repaving along the Palisades Interstate Parkway. The last time such work was done on the road, which links New York state to the George Washington Bridge, was the mid-1990s.
  • Seaside Heights carousel up for auction

    Seaside Heights carousel up for auction

    Monday, July 21 2014 7:57 PM EDT2014-07-21 23:57:00 GMT
    The 82-year-old carousel on the Seaside Heights boardwalk survived Superstorm Sandy and a devastating fire, but it may not survive changing economics. The company that owns the carousel is selling it to make room for new attractions. An auction is planned for fall, with the hope that a buyer will take the entire ride and prevent it from being broken up and sold off piecemeal.
    The 82-year-old carousel on the Seaside Heights boardwalk survived Superstorm Sandy and a devastating fire, but it may not survive changing economics. The company that owns the carousel is selling it to make room for new attractions. An auction is planned for fall, with the hope that a buyer will take the entire ride and prevent it from being broken up and sold off piecemeal.
  • Wawa to close first store opened 50 years ago

    Wawa to close first store opened 50 years ago

    Monday, July 21 2014 3:01 PM EDT2014-07-21 19:01:43 GMT
    Wawa plans to close the first convenience store opened by the chain in the Philadelphia suburbs a half-century ago.  Susan Bratton, Wawa's regional real estate manager, says the old store is just too small.
    Wawa plans to close the first convenience store opened by the chain in the Philadelphia suburbs a half-century ago.  Susan Bratton, Wawa's regional real estate manager, says the old store is just too small.
Powered by WorldNow

4739 NW 53rd Avenue, Sutie B
Gainesville, FL 32653

Phone: (352) 371-0051

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