UPDATE: Figuring Out Your Tax Bill
Montclair officials release reassessment information.
Montclair taxpayers received their recently issued tax bills in the mail late last week, bills that reflect changes based on the reassessed value of their properties. As a result, Montclair Patch has been bombarded with emails from Montclair residents concerned that their taxes have increased dramatically. Some charge that they soon will be putting their homes on the market.
But Councilor Bill Hurlock said today that at least some residents are reading their bills the wrong way.
"Essentially people are erroneously multiplying the third quarter payment by four and claiming that this is their new tax," he said. "The third quarter captures part of the payment for quarters one and two, thus it is already elevated."
He said that the township website has issued an update on the proper way to look at the property tax issue.
For those still confused by their tax bill, there's little the new Township Council can do about it. Assessments have been filed with the county and are completed for this year, meaning people can file an appeal—but for next year.
Here's the note from the township:
Montclair taxpayers received their recently issued tax bills which reflect changes based on the reassessed value of their property. Some tax bills increased in amounts greater than the spending increases approved in the municipal, school and county budgets – the atypical increase is a result of the township-wide reassessment conducted in 2011.
Multiplying your third quarter bill by four will not accurately reflect your annual taxes – to determine your annual bill, multiply your new assessed value by the tax rate .03252.
As an aside, the Township Council will be holding its first regular meeting tonight at 8 p.m. (Also, you can take a look at your own taxes as well as everyone else's taxes by going here.)