Despite inflation, Hunterdon County keeps flat tax rate. Here's why
FLEMINGTON — Despite rising inflation, the Hunterdon County Board of Commissioners has adopted a budget that keeps the county tax rate level for the fifth consecutive year.
The county tax rate is 31.5 cents per $100 of assessed property value. That does not include local municipal and school district tax rates.
The $101.8 million budget for the fiscal year beginning on July 1 is 2.1% higher than the previous $99.6 million budget.
A total of $73 million will be collected in property taxes to fund the county budget.
"Maintaining the tax rate of 31.5 cents per $100 of property valuation in 2018, 2019, 2020, 2021 and now 2022, is a significant accomplishment worth recognizing, particularly in light of the demands of the pandemic and rising inflation rate," said County Commissioner Shaun Van Doren. "There are very few items, if any, today that can claim to be the same cost as four years ago, particularly in this time of massive inflation."
Van Doren also emphasized that the budget maintains the same level of county services.
Helping to keep the tax rate level is that the budget has had no debt payments since 2014.
"While the Board of Commissioners cannot influence prices of food, gasoline, and other necessities, the frozen tax rate is an island of fiscal safety in the stormy seas of inflation," County Commission Director John Lanza said.
Earlier: Hunterdon County introduces $100 million budget; no tax rate increase for 2022
Both Lanza and Van Doren thanked retired Commissioner Matt Holt, a self-professed fiscal hawk, for creating the policies and practices that have kept the county tax rate stable.
"Please allow me to extend credit where it is very much due to our recently retired colleague Matt Holt, who led the way in our conservative fiscal approach and for whom this budget is part of his financial legacy for the taxpayers of Hunterdon County,” Van Doren said.
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Mike Deak is a reporter for mycentraljersey.com. To get unlimited access to his articles on Somerset and Hunterdon counties, please subscribe or activate your digital account today.
This article originally appeared on MyCentralJersey.com: Despite inflation, Hunterdon County keeps flat tax rate. Here's why
