Montco Proposes $568 Million Budget For 2024, Cites Inflation

NORRISTOWN, PA — Montgomery County has proposed a $568 million budget for 2024, with expenditures about seven percent higher than a year ago, officials said.

All told, homeowners would see a marginal increase in property taxes, which would net the county $33.3 million but would cost the individual only about $94.

“This proposal balances financial efficiency with the needs of our constituents," Montgomery County Commissioner Ken Lawrence Jr. said in a statement. "It allows us to provide the necessary services and programs to those who live, work, invest and visit Montgomery County without compromising our fiscal responsibility to taxpayers.”

The county touted their 6th straight highest bond rating possible, a rating of "Aaa with a stable outlook" from Moody's analysts, to support their proposed investments. Moreover, the county forecasts an 11 percent increase in revenue compared to a 7 percent increase in expenditures next year, putting it in a great position to invest.

The county said the budget prioritizes county employees. Specifically, $254 million of that $568 million is proposed for paying more than 2,800 county employees. Officials also pointed to inflation as a major driver of costs.

"Households across the country are experiencing increased energy and food costs, and the county is not immune to that," the proposal states. "The 2024 budget accounts for the increasing costs of everyday goods and services, such as heating and cooling county-owned buildings, fueling our fleet, and ensuring that the populations we serve have high-quality food."

Another $209 million in allocated for infrastructure improvements on bridges, parks, and trails, $25.7 million was allocated for support services for employees, and $27.5 million to strengthen the pension fund.

As for the slight increase in property taxes, residents who earn low or fixed incomes can enroll in a tax abatement program to ensure they do not face additional difficulties.

The full proposed budget can be viewed online here. Two public hearings on the budget will be held at One Montgomery Plaza on Thursday, Nov. 30 at 10:30 a.m. and again at 6 p.m. Comments can also be sent via email to commissioners@montgomerycountypa.gov, or mail to Montgomery County Board of Commissioners, P.O. Box 311, Norristown, PA 19404.