Atlantic City Mayor Marty Small Announces Tax Decrease for Second Year
Atlantic City Mayor Marty Small Announces Tax Decrease for Second Year
ATLANTIC CITY, NJ (April 20, 2021)–Atlantic City taxpayers can expect some tax relief in their municipal taxes this year, as Mayor Marty Small, Sr. today announced his administration will be delivering a municipal tax decrease for the second consecutive year.
Watch the full announcement here: https://www.facebook.com/martysmall/videos/10220010226553592
The decrease, Small said, comes as his administration has also introduced a municipal budget under $200 million for the first time in years. Small described the spending and tax reductions as a “tall task” that represented slashing $23 million in spending while increasing services to residents.
“As you know, the budget is a mere wish list,” Small said. “Through hardwood and dedication, we cut twenty-three million dollars, increasing services while decreasing taxes. While other municipalities near and far are having discussions with their communities about flat taxes or even tax increases, that’s not the narrative in Atlantic City. We take pride in fiscal responsibility and transparency and always have in mind the taxpayers of Atlantic City first.
Atlantic City lost $80 million in ratables, yet still produced a 5.46 decrease in municipal taxes, Small said.
Under the Small administration, Moody’s Investor Service has upgraded the city’s credit rating two levels, and Standard & Poor’s upgraded the city’s general bond obligations and financial outlook.
The tax decrease represents a drop of 5.4 cents in the portion of taxes residents pay toward the municipal government.
“This represents a lot of hard work and dedication to show that this administration means business for tax payers,” Small said. “We are taking care of the people and will continue to take care of the people,” he said.
Mayor Small was elected Mayor of Atlantic City in November 2020 to fill an unexpired term, winning more than 70 percent of the vote. He is seeking re-election to a four-year term this year, with city council candidates George Tibbit, Bruce Weekes and Stephanie Marshall. A lifelong resident of Atlantic City, Marty Small, Sr. was the youngest person to be elected to the Atlantic City council when he won his first term more than 16 years ago and formerly served as Atlantic City Council President.
Watch Mayor Marty Small, Sr., discuss the future of Atlantic City on State of Affairs With Steve Adubato here: https://www.pbs.org/video/atlantic-city-mayor-covids-impact-casino-industry-qabmsz/
