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9:25 am
Mon May 20, 2013

Expect Small Hike in Somerset County Property Taxes

Credit Somerset County Seal

There could be a small increase in property taxes for Somerset County residents.

The proposed 2014 budget is expected to hike the rate from 88.3 cents per $100 of assessed property value to 91.5 cents.

This would allow the county to get the same amount of tax revenue as the current year to make up for the decline in assessed property values during the Great Recession.

But the new rate is lower than it was four years ago.

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