ELIZABETH, NJ – Union County appears to be recovering from the economic recession that began with the stock market crash in 2008, as indicated by the record increase in property transaction revenues in excess of $24 million to date, as reported by the Union County Clerk’s office.
This trend began in the winter and spring has continued through the summer season and into the fall.
“The activity in our Recording Division continues to reflect Union County’s long term recovery from the recession sparked by the 2008 financial crisis,” said County Clerk Joanne Rajoppi. “This increased activity provides additional funds to the County budget to offset taxes, and it also helps to fund programs designed to assist local families who are still struggling to find their footing.”
Prior to the financial crisis, recording division collected revenues of more than $25 million from January through August. After the collapse that September the division collections for the same eight-month period dived to less than $15 million in 2009 and never recovered to the 2008 high.
The business division, which primarily handles passport applications, trade name registrations and notary transactions, also reports an upswing in revenues. Its 2015 January to August revenues totaled $426,292, surpassing the previous high of $384,298 set in 2008.
For information on all County Clerk programs and services visit ucnj.org/county-clerk.