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The City of Ocean Shores remains focused on strict fiscal accountability and the results are extremely impressive. Overall, the city has reduced debt from $44.8 million dollars in 2016 to $13.6 million in 2023; having paid down $31.2 million dollars or 70% of our overall debt.
The assessed value of Ocean Shores has increased by 169% in that same time, from $935,256 in 2016 to $2,513,133 today.
The city has also reduced the levy rate by $3.04, down 62%, while our LID debt has decreased from over $15 million to a little under $2 million today.
On the whole, the City is in excellent financial health and the General Fund balance increased by more than 1.6 million dollars since 2016.
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