New estimates put the price tag of repairing the Sandy-ravage Seaside Heights Casino Pier at $45 million. Seaside Heights Police Chief Thomas Boyd revealed the damage estimates on Friday while touring the area with New Jersey lawmakers. That's the same day Governor Chris Christie raised the Hurricane Sandy damage estimates in New Jersey from $29.4 billion to $37 billion.

The Casino Pier is, for the most part, still standing. However, a huge section on the end was ripped off by Hurricane Sandy's force sending the Jet Star roller coaster into the ocean--where it remains. Owners of the pier have said the pier continues to be battered by the water, making it increasingly more weak. They expect another portion of the Casino Pier to collapse into the Atlantic soon. Divers will soon inspect the pilings under the pier to determine if any part of the pier can be salvaged, Patch.com reports.

Photos: Seaside Heights Casino Pier Carousel's post-Sandy status still unclear

The $45 million figure to rebuild and reopen the Casino Pier also includes the costs associated with removing the huge steel roller coaster from the ocean. The five-story coaster has been sitting partially submerged just off the Seaside Heights shore for more than a month now. Seaside Heights Mayor Bill Akers famously suggested it be kept there as a tourist attraction, but it's since been determined it will need to be removed.

The nearby Funtown Pier in Seaside Park also took a beating from Hurricane Sandy. However, it's unlikely that pier will be rebuilt.

Work to rebuild the entire 16-block Seaside Heights boardwalk is expected to begin in January and should be open by Memorial Day 2013--just in time for the summer tourism season. “Seventy-five percent of our budget is tourism, 25 percent is based on property taxes. That’s our formula for balancing our budget. Without us being open, we’re out of business,” Seaside Heights Mayor William Akers explained stressing the importance of having the boardwalk reopened as soon as possible.