Property Tax Question

hazel

If you pay your property tax quarterly, does the payment cover the previous three months or the next three months? Did my May payment cover May, June, July? 


Oldstone

Your May payment covered April, May and June.  Your August payment covers July, August and September.


hazel

Thank you Oldstone.


wendy

Did we get our 2019 Final bill so we know what to pay in August? I don't think I received this.


joan_crystal

I didn't receive one either.  Deadline is getting close.


BG9

To do the final property tax bills they need to know how much state aid is given to local agencies. That can't happen until after the NJ state budget is signed into law, this year June 30. The local governmental agencies then calculate how much local residents are on the hook for. It takes about two - three weeks to get the bills out.

Taxes with the grace period are not due until the 10th of the month. If the budget calculations are late then the date is moved up. Last year it was moved to August 14.


dano

do we have any indication as to what % increase we may expect?


EricBurbank

From what I have seen, heard, or read about all 3 budgets I think it is going to come in around a 3.5% - 4% increase in taxes.  I am going with closer to 3.5%. 


 I watched a town meeting a few months ago and the new CFO was explaining that the town should do some refinancing of the bonds (I believe it was bonds) to save money.  Downside to this idea - we have to take a hit now  to save in the long run.  But I still suspect the town's increase will be less than the school's increase.


Eric Burbank




Also worth noting is how long Vic and company did keep the tax increase at or below the 2% cap for many of years.  While I hope I am wrong about the increase, I can understand why we could get hit hard this year. 


wendy

Thanks all for the facts/explanations!



BG9
EricBurbank said:
From what I have seen, heard, or read about all 3 budgets I think it is going to come in around a 3.5% - 4% increase in taxes.  I am going with closer to 3.5%. 

If true, then so much for the so called 2% cap.

Double the rate of inflation. Sad for those living on cola pensions. It seems they'll have to dip into their savings. Or move out. Or live on less.


EricBurbank

The 2% cap didn't include stuff like health insurance and I think pensions, I could be wrong about the 2 examples I gave to you but there were definitely big exemptions.


I don't recall Maplewood using the exemptions in prior years.  So they actually did better than the state's policy required.





BG9
EricBurbank said:
The 2% cap didn't include stuff like health insurance and I think pensions, I could be wrong about the 2 examples I gave to you but there were definitely big exemptions.

I know that. Which is one reason I wrote "so much for the 2% cap." A joke,

The problem is those on cola retirement and anyone getting a salary increase percentage wise less than the local property tax increase will see a percentage decrease in their disposable income. One year doesn't mean much. Over 20 years it does. 


joan_crystal
wendy said:
Did we get our 2019 Final bill so we know what to pay in August? I don't think I received this.

 I stopped by Town Hall this morning and spoke with the town treasurer. Bills should be going out at the end of July, due back at the end of August with the grace period possibly extending that to early September.  Reason for the delay in sending out the bills:  town wanted to send out a final 3rd quarter bill rather than an estimated one.


wendy

Thanks Joan. BG9 basically explained as much to both of us on 7/14 but appreciate you confirming this. 


sac
BG9 said:


EricBurbank said:
From what I have seen, heard, or read about all 3 budgets I think it is going to come in around a 3.5% - 4% increase in taxes.  I am going with closer to 3.5%. 
If true, then so much for the so called 2% cap.

Double the rate of inflation. Sad for those living on cola pensions. It seems they'll have to dip into their savings. Or move out. Or live on less.

 From what I hear, COLA is less than CPI increase this year (most years?) so maybe that’s where the blame lies.


Red_Barchetta
EricBurbank said:

Also worth noting is how long Vic and company did keep the tax increase at or below the 2% cap for many of years.  While I hope I am wrong about the increase, I can understand why we could get hit hard this year. 

 I wonder if that is due to good management, deferred maintenance, layoffs, or one-time PILOT payments.   


FilmCarp

I'm not in Maplewood, but I seem to remember reading that you had a new business manager who was surprised to learn that you had been using your reserve fund to balance budgets for at least two years, and that a larger than normal increase was required to get things back in line.  Am I mistaken?


joan_crystal
FilmCarp said:
I'm not in Maplewood, but I seem to remember reading that you had a new business manager who was surprised to learn that you had been using your reserve fund to balance budgets for at least two years, and that a larger than normal increase was required to get things back in line.  Am I mistaken?

 No you are not mistaken.  This is partly the reason for the delayed 3rd quarter real property tax payment.  It was determined that sending out a final rather than estimated tax bill would result in a significant savings for the town.


krnl

But putting a notice of the delay on the Maplewood website and the section where you lookup the amount you owe would have minimal to no cost to the township.  Some of us are aware when taxes are due and the lack of information on the amount of our tax bill for the quarter caused great dismay. 


joan_crystal

Just received this email from the town:

Notice from the Tax Collector's Office

Estimated tax bills will not be mailed this year. The Township is still awaiting the County Board of Taxation to certify tax rates.

Taxes will not be due on August 1st. A regular tax bill will be mailed at the end of this month. The due date for 3rd quarter property taxes will be at the end of August.

The Township will update this notice with an exact due date once we receive the certified tax rates.

We apologize for any inconvenience this may have caused.


krnl
joan_crystal said:
Just received this email from the town:
Notice from the Tax Collector's Office
Estimated tax bills will not be mailed this year. The Township is still awaiting the County Board of Taxation to certify tax rates.
Taxes will not be due on August 1st. A regular tax bill will be mailed at the end of this month. The due date for 3rd quarter property taxes will be at the end of August.
The Township will update this notice with an exact due date once we receive the certified tax rates.
We apologize for any inconvenience this may have caused.

 It is about time they sent this notice!!!!


yahooyahoo
EricBurbank said:
The 2% cap didn't include stuff like health insurance and I think pensions, I could be wrong about the 2 examples I gave to you but there were definitely big exemptions.


I don't recall Maplewood using the exemptions in prior years.  So they actually did better than the state's policy required.






Correct.  Maplewood Township (not the BOE) stayed under the 2% cap even though there are many exemptions allowed to go over the 2%.  This is why the Town budget has exploded this year.  They are making up for several years of budget cutting.


yahooyahoo
joan_crystal said:
Just received this email from the town:
Notice from the Tax Collector's Office
Estimated tax bills will not be mailed this year. The Township is still awaiting the County Board of Taxation to certify tax rates.
Taxes will not be due on August 1st. A regular tax bill will be mailed at the end of this month. The due date for 3rd quarter property taxes will be at the end of August.
The Township will update this notice with an exact due date once we receive the certified tax rates.
We apologize for any inconvenience this may have caused.

How will this work with homeowners who have their property taxes paid out of escrow by their mortgage companies?


FilmCarp
yahooyahoo said:


EricBurbank said:
The 2% cap didn't include stuff like health insurance and I think pensions, I could be wrong about the 2 examples I gave to you but there were definitely big exemptions.


I don't recall Maplewood using the exemptions in prior years.  So they actually did better than the state's policy required.
Correct.  Maplewood Township (not the BOE) stayed under the 2% cap even though there are many exemptions allowed to go over the 2%.  This is why the Town budget has exploded this year.  They are making up for several years of budget cutting.

 Not exactly.  They were raiding their reserve funds, not cutting budgets.


max_weisenfeld

From facebook:

Dean Dafis

7 hrs

CORRECTION (edited to correctly reflect delay from the State, not the County)

Regarding 3rd quarter property tax payments for Maplewood:

3rd quarter property taxes will not be due on August 1st, as per normal course. A bill will go out shortly with a due date in late August. Why?

State Treasury (not the County Tax Board as previously noted erroneously) is behind in certifying our municipal budget (which includes the tax rates.) We will send out an update as soon as we receive them.

Should you have an automated payment set up (to post on August 1st):

if via your mortgage holder, you needn't do anything, the clearing houses will know not to process the payment on the 1st;

if via your personal banking, cancel the payment or let it rip in which case you will receive a 3rd quarter bill for any unpaid portion, as applicable.

For further inquiries, stop by or call Town Hall: 973-762-8120.

An official notification of this went out from town yesterday - If you're not already signed up to receive town email alerts, please go to our website and sign up for them - you'll be able to do so right on the landing page, easy.



sac
yahooyahoo said:

How will this work with homeowners who have their property taxes paid out of escrow by their mortgage companies?

 Nothing different than usual. The mortgage company will handle it, not you.


This only affects people who pay their taxes directly.


yahooyahoo
FilmCarp said:


yahooyahoo said:

EricBurbank said:
The 2% cap didn't include stuff like health insurance and I think pensions, I could be wrong about the 2 examples I gave to you but there were definitely big exemptions.


I don't recall Maplewood using the exemptions in prior years.  So they actually did better than the state's policy required.
Correct.  Maplewood Township (not the BOE) stayed under the 2% cap even though there are many exemptions allowed to go over the 2%.  This is why the Town budget has exploded this year.  They are making up for several years of budget cutting.
 Not exactly.  They were raiding their reserve funds, not cutting budgets.

So you are saying Maplewood Township cut nothing from its budget over the past few years?

I know they were using the reserve.


yahooyahoo
sac said:


yahooyahoo said:

How will this work with homeowners who have their property taxes paid out of escrow by their mortgage companies?
 Nothing different than usual. The mortgage company will handle it, not you.


This only affects people who pay their taxes directly.

But how does the mortgage company know that payments have been delayed?  Does the Town notify them? 


Robert_Casotto

for once, the ineptitude of state government redounds to our benefit.


BG9
Robert_Casotto said:
for once, the ineptitude of state government redounds to our benefit.

Is it the state? I know that other municipalities have finalized over a week ago. 

Why the delay in certifying this budget?


Dean Dafis

7 hrs
CORRECTION (edited to correctly reflect delay from the State, not the County)

State Treasury (not the County Tax Board as previously noted erroneously) is behind in certifying our municipal budget (which includes the tax rates.) We will send out an update as soon as we receive them.
Should you have an automated payment set up (to post on August 1st):

 



In order to add a comment – you must Join this community – Click here to do so.