Press Release

Contact Information:

Mayor Troiano

Deputy Mayor Mikulski 

Commissioner McConnell

609-846-2044

Release Date:

April 23, 2026

FOR IMMEDIATE RELEASE
City of Wildwood Adopts 2026 Municipal Budget Focused on Stability, Efficiency, and Continued Progress

WILDWOOD, NJ – The City of Wildwood has officially adopted its 2026 municipal budget of $41,246,678, compared to the 2025 budget of $45,309,882, reflecting a 9% decrease of $4,063,204. This budget reflects a continued commitment to fiscal responsibility, operational efficiency, and long-term financial stability while maintaining the high-quality services residents and visitors expect.

The 2026 Local Purpose Tax Rate will increase by 1.9 cents, resulting in an approximate annual increase of $39.67 for the average residential home assessed at $208,804. The Local Purpose Tax Levy will increase by $636,809.70, or 2.68%, compared to the 2025 budget.

The City’s financial position remains strong and continues to improve. At the end of 2025, the City maintained $5,195,278 in its Fund Balance Account, reflecting an increase of approximately $39,657 from 2024. The 2026 budget responsibly utilizes $2,500,000 of this surplus, leaving a remaining balance of $2,695,278 to support future financial stability.

The 2026 budget incorporates a series of strategic initiatives and cost-saving measures designed to improve the City’s financial forecast. Among the most impactful efforts is the implementation of a shared services agreement for County dispatch services, enhancing efficiency while reducing operational costs. Additionally, the City conducted a comprehensive review of its insurance policies, resulting in adjustments to deductibles that better align with financial goals and risk management practices.

A major financial milestone included the City’s withdrawal from the State Health Benefits Program, avoiding a projected 37% increase in premiums. This proactive decision significantly reduced long-term liabilities and stabilized healthcare-related expenses for the municipality.

City officials undertook a comprehensive review and adjustment of all municipal fees to ensure they accurately reflect the cost of services, further strengthening revenue streams without overburdening taxpayers. Beyond these initiatives, the City made additional savings through the strategic outsourcing of certain services, renegotiation of contracts with outside agencies, and continued benefits from its solar energy program. A modest increase in ratables, combined with disciplined budgeting practices across all departments, contributed to holding the line on spending while improving overall financial health.

The City has also aggressively pursued and secured grant funding to support major capital improvements, significantly reducing reliance on local tax dollars. These grants are funding key projects including enhancements to the Boardwalk, landfill operations, road infrastructure, and recreational facilities, ensuring long-term investments in the community without placing additional strain on taxpayers.

“This budget represents a thoughtful and disciplined approach to governing,” said Revenue and Finance Commissioner McConnell. “Through strategic decision-making, cost containment, and a commitment to innovation, we have positioned Wildwood on a stronger financial footing while continuing to invest in the infrastructure and services that make our community a premier destination.”

Deputy Mayor and Commissioner of Public Safety Mikulski added, “This budget reflects the hard work, discipline, and commitment of our Chief Financial Officer, all City Employees, Department Heads, Business Administrators, and our Unions who worked diligently to keep the 2026 increase to a minimum while continuing to provide the essential services residents deserve.”

Mayor Troiano stated, “This budget is the result of proactive planning and smart financial decisions. By implementing shared services, reevaluating key metrics, and maintaining a disciplined approach across all departments, we were able to produce a budget we are proud to adopt while limiting the burden to the taxpayer.”

The 2026 budget underscores the City of Wildwood’s dedication to responsible financial management, transparency, and long-term planning, ensuring a sustainable future for residents, businesses, and visitors alike.

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