Slight Tax Increase Proposed For Basking Ridge Residents

BASKING RIDGE, NJ — Basking Ridge residents will see a slight increase in taxes as revealed in the proposed budget for 2022.

Bernards Township Chief Financial Officer Sean McCarthy introduced this year's $43.9 million municipal budget at Tuesday's meeting, which includes a 1.98 percent municipal services tax levyincrease.

A home assessed at $663,991 will pay $49.36 per year or $12.34 more per quarter for the municipal services portion of the tax bill, McCarthy told Patch.

This year the municipal tax rate went down "significantly" to 0.299 or 4.2 percent from last year's .312, said McCarthy.

"This is attributed to the increase in the overall assessed value," said McCarthy at the meeting.

"As we've all seen this year the residential market has been historically high... This year we are looking at an increase of residential values of 6.95 percent that is coupled with an increase in the commercial value of 2.15 percent," said McCarthy.

Included in the budget is roughly $7 million in capital projects including $1.4 million to build an elevator addition at the municipal building to conform with the Americans with Disabilities Act (ADA). Read More: Elevator Addition For Bernards Municipal Building In The Works

A public hearing will be held on Tuesday, April 26 before the township committee adopts the 2022 budget. Click here to view the budget presentation or see the video below (it begins around 3:28:00):

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