Camden County, NJ Readies Property Tax Increase

CAMDEN, N.J. (CBS) – If you live in Camden County, your real estate taxes are about to go up.

At first glance it would appear that the increase in the tax rate — from 61 to 66 cents per thousand dollars of assessed value — would exceed the two-percent state cap on tax increases. But that cap covers the tax levy — the total amount of cash an entity takes in — and in that configuration the county’s $332-million budget complies.

“Excluded from the cap are items such as debt service, pension payments, health benefits, and emergency expenses such as snow removal,” says Camden County freeholder-director Lou Cappelli.

Many non-essential services will be closed every other Friday to make ends meet.  The average tax bill will go up about $55 per year after the budget is formally approved next month.

Reported by David Madden, KYW Newsradio 1060

Top Content On CBSPhilly

More From CBS Philly

Getaway Guide To Autumn Birding
Enter Today

Watch & Listen LIVE