(Camden, N.J.) – The Camden County Commissioners recently passed a budget that reduced the county levy by $5 million this year. The governing body will fund and preserve its core mission of providing essential public safety, public works, educational and health services to residents, children and families of the region. In addition, the board will focus its budget on roadway and parks investments to renovate and revitalize county infrastructure.
“This budget document makes strong investments into the county’s critical infrastructure from roads and bridges to park improvements,” Deputy Director Ed McDonnell said. “Ensuring that taxpayer funds are being utilized in a prudent manner and applying a healthy dose of fiscal discipline is vital to our budget process.”
The Commissioners have continued to be a good steward of the county budget, which has been recognized by Standard and Poor’s with a bond rating of AA. This is the highest rating ever for the county. Standard & Poor’s cited “strong budget performance” combined with “strong management” when it issued the AA bond rating.
This year, the Commissioners are slashing the county levy and are more than $15 million under the state-imposed tax cap, which is the most since that tool was instituted in 2011. For more historical context, in 2017 the county tax rate was at 82 cents, which is the same as it was in 2004. In the 2022 budget document, the tax rate has fallen to 72 cents.
This budget will represent an almost 8% decrease from 2021on the average assessed household in the county. That means a house assessed at $200,000 will have reduced county taxes of $120 and a home assessed at $500,000 will see a reduction of $300.
“This budget will keep the county moving forward with a sustainable economic vision,” McDonnell said. “The board continues to work hard to streamline services and cut costs for the county taxpayers to ensure Camden County remains an affordable place to live.”