Sunday, February 19, 2012

NEW PROPERTY TAX MAP SHOWS MAPLEWOOD HIGHER THAN AVERAGE

NJ Spotlight posted a great map showing the average property taxes for each municipality. 


Not a surprise Maplewood is above the state average with a $13,118 average per home tax compared to the state average of $7,519.


More from the site on Maplewood below:

Municipality: Maplewood Township

Total Tax Levy: $101,798,317.39
Levy Change: 6.1%
Total Tax Rate: $3.102
Tax Rate Change: -33.4%
Average Home Value: $422,840
Home Value Change: 57.6%
Average Property Tax: $13,118
Property Tax Change: 5.0%
Average Homestead Rebate: $314
Rebate Change: -75.3%
Average Net Property Tax: $12,804
Net Tax Change With Rebate: 14.0%

As we know, most of this is due to the state school funding formula which provides SOMA schools with only 8% of its budget while the state average for such funding is 24%. 


I also credit TC leaders for doing a lot to cut costs and combine services with South Orange, but with no layoffs or furloughs in the past two years.



2 comments:

Anonymous said...
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Anonymous said...

will it ever stop going UP