Ventnor is holding off on adopting its 2013 budget until it receives word from the state on grants.

Adoption already had been postponed from April, but Mayor Mike Bagnell said the city has applied for a Community Development Block Grant that, if received, could lower the proposed tax rate of 85.7 cents per $100 of assessed value by about 2 to 3 cents.

The city commissioners instead adopted an amended temporary budget to pay for expenditures until a final budget is approved.

The CDBG grant would help offset anticipated revenue loss from Hurricane Sandy, with any remainder to be used as needed, Bagnell said.

Without any changes due to offsets from the grant, the proposed $29.4 million budget would mean an increase of about 4 percent for Ventnor's municipal tax bill.

While the tax levy would decrease by about $819,000, to about $21.3 million, the proposed (pre-grant) rate increase of about 3.2 cents per $100 stems from successful tax appeals totaling about $65 million in lost revenue, Bagnell said.

That lost revenue is absorbed by all taxpayers.

Contact Steven Lemongello:

609-272-7275

Follow him on Twitter @SteveLemongello

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