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FOR IMMEDIATE RELEASE:

May 25, 2022

MEDIA CONTACT:

Derek Sands

201-250-6080

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TEDESCO INTRODUCES ZERO BUDGET FOR 2022 WITH NO TAX INCREASE

(HACKENSACK, N.J.) – On Wednesday, Bergen County Executive Jim Tedesco presented his 2022 budget proposal to the Bergen County Board of Commissioners at their regularly scheduled work session. Tedesco’s proposed zero budget holds the line on taxes and comes with no increase on the County portion of resident tax bills in 2022. On a home assessed at $500,000, the proposed budget would actually decrease the County portion of property taxes by $17.75.

Tedesco’s 2022 budget proposal keeps taxes stable while investing in County infrastructure and increasing funding for education, mental health services, and services to seniors.

The budget proposal comes just as Moody’s Investors Service once again reaffirmed Bergen County with its highest rating, Aaa, on April 22, citing the County’s strong financial management team, conservative budgeting, and healthy local economy. These conditions also served as the driving force behind the administration’s ability to present a zero budget for 2022. The County has experienced sustained ratable growth over the last eight years and property values remain 33% higher than any other County in the State of New Jersey. Further strong fiscal management under Tedesco’s leadership, has allowed the County to reduce its debt load by $93.6 million over the last eight years. Under this proposed budget, Bergen County will continue to have the second lowest County tax rate in New Jersey.

“I would like to thank my strong fiscal team for once again delivering a budget that holds the line and has the back of our taxpayers,” stated Bergen County Executive Jim Tedesco. “Budgeting is about priorities and this budget strikes the important balance of providing the necessary funding to serve our residents while maintaining our strong fiscal standing and the second lowest County tax rate in New Jersey."

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