Under a proposed budget presented to the Gloucester County Board of Supervisors on Monday night, county residents would experience a 3 cent increase to their real estate tax rates.
The $174.5 million budget presented by Acting County Administrator Carol Steele includes about $71.5 million for the school division’s operating budget, $49.1 million for capital and debt services, $16.3 million for public safety, and other county needs totaling about $37.6 million.
In this budget, the current real estate tax rate of 69.5 cents per $100 of assessed value would increase to 72.5 cents. For a home valued at $100,000, the annual increase would amount to $30 (from $695 to $725). The average home in Gloucester is worth just under $300,000; for a home of that value, the 3 cent tax increase would cost the homeowner three times that amount, or an additional $90.
Steele reminded the board that last year it avoided a 5 cent real estate tax increase and this year the county is starting off with a 5 cent...