Something’s going down in Atlantic City, and for a change it’s something good: a 5 percent drop in AC’s municipal property taxes for the 2017 budget year, the first such reduction in a decade.
The tax decrease resulted from a $35 million reduction in the city’s 2017 budget, which, at $206.3 million, is $56 million less than the 2015 budget.
According to Gov. Chris Christie’s office, the 5 percent decrease in the municipal property tax rate means that Atlantic City homeowners on average will pay about $138 less in municipal taxes in 2017, with no reduction in municipal services.
Christie commended former U.S. Senator Jeffrey S. Chiesa, who is leading the turnaround effort for the state, for “leading Atlantic City to turn the corner, holding the line on expenses, and making responsible choices to revitalize the city.”