Approved MontCo Budget Raises Taxes 8 Percent
NORRISTOWN PA – Real estate taxes imposed on owners of property within Montgomery County will rise 8 percent during 2022, following the county Board of Commissioners’ 2-1 approval Thursday (Dec. 16, 2021) of next year’s $498.6 million county general fund budget and accompanying capital improvement plan.
Commission Chair Dr. Valerie Arkoosh and Vice Chair Ken Lawrence, both Democrats, favored the budget and tax hike. The sole opponent was Republican Commissioner Joe Gale.
Under the now-accepted budget the county’s property tax rate will rise from 3.623 mills to 3.923 mills, its officials said. Owners of a single-family home with an average market value of $381,000 can expect to pay an additional $49 annually, they added. The rate of a separate tax created several years ago to support Montgomery County Community College remains unchanged at .39 mills.
Of its $498 million spending plan, 40.4 percent is allocated for health and human services, 17.1 percent for judicial activity, and 14.4 percent for corrections, according to the county. However, it expects to attract only $486.6 million in revenues, primarily from real estate taxes (49 percent), federal and state grants (39 percent), and departmental income (12 percent).
As a result, the county will tap its savings account, its unassigned funds, for roughly $12 million to balance the 2022 books. As of Thursday the unassigned funds amounted to $97.8 million, or 20.1 percent of general fund revenues.
The coming year’s capital fund budget is part of a four-year (2022 to 2026) project improvements plan issued during November. It contains expenses for several items that directly affect infrastructure and assets in the county’s western half.
Public hearings on the budget were held Dec. 2 (Thursday).