CAMDEN CITY, NJ (MAY 13, 2022)(CNBNews)--The Camden County board of commissioners on Monday said that, in an effort to ensure Camden remains an affordable place to live, it recently passed a budget that reduced the county levy by $5 million this year and puts it more than $15 million under the state-imposed tax cap, according to a news release.
The new 2022 budget represents an almost 8% decrease from 2021 on the average assessed household in the county, which 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.
The total amount of the 2022 budget was not provided in the release.
“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,” Deputy Director Ed McDonnell said.
McDonnell said Camden County is making strong investments into its critical infrastructure, from roads and bridges to park improvements.
The new budget, according to the release, preserves Camden County’s core mission of providing essential public safety, public works, educational and health services to residents, children and families of the region.
The commissioners have continued to be a good steward of the county, which has been recognized by Standard & 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.