STONE HARBOR — A loss in tax ratables, a reduction in revenue from cell phone providers renting space on the borough’s water tower, and an increase in health insurance costs combined for a 2.6 percent increase in the 2014 municipal budget.

The $14 million budget, adopted last month, raises the local tax rate by eight-tenths of a cent to 2.32 cents per $100 of assessed value. That means the owner of a $1 million home will pay $80 more in local taxes this year.

With Wednesday’s adoption of a $3.1 million public school budget, homeowners will pay roughly $11 more in taxes in 2014-15 to educate the borough’s 82 students. The school budget, which carries a 2 percent increase over this year, raises the tax rate by one-tenth of one cent. There were no reductions in school programs or services.

Latest Video

Several factors contributed to the $400,000 increase in the municipal budget from last year’s $13.6 million. Jim Nicola, chief financial officer for Stone Harbor, said health insurance costs for the borough’s 80 full-time employees increased by $101,000.

Reductions in revenue were due to the loss of $4.6 million in tax ratables, which Nicola said represents less than 1 percent of the borough’s $4.4 billion in assessments, and the loss of $58,000 from two cell phone providers that removed their antennae from the town’s water tower.

Local taxes account for $2,320, or 44 percent, of a homeowner’s tax bill and school taxes account for $542, or 10 percent, of a homeowner’s tax bill. County taxes, which account for 46 percent of a Stone Harbor homeowner’s tax bill, push the average bill to about $5,100, Nicola said.

Contact Cindy Nevitt:

609-463-6719

Stay informed! Sign up to receive top headlines delivered to your inbox each morning.

Senior copy editor for the Press of Atlantic City. Have worked as a reporter, copy editor and news editor with the paper since 1985. A graduate of the University of Delaware.

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.