Ocean County puts Sandy tax base loss at $2B

    Ocean County officials are estimating the county has lost at least 2 percent, or $2 billion, of its tax base because of Superstorm Sandy.

    The freeholder board on Wednesday released figures from 21 of the county’s 33 towns reporting preliminary real estate losses of nearly $883 million.

    The tiny oceanfront town of Mantoloking alone is reporting property losses of nearly $441 million with 511 properties sustaining catastrophic damage from the storm.

    Toms River, Bay Head, Lavallette, Beach Haven and Ocean Gate have yet to submit figures.

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    Freeholder John Bartlett Jr. tells the Asbury Park Press mainland taxpayers will see a shift in the tax burden as it moves from shore communities. Bartlett says officials are looking for ways to lessen the impact on the county budget.

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