|
The overall tax rate in Monroe, because of the county, will increase on average 9.8 cents per $100 of assessed value. The reason we say “on average” is because each fire district is different, and the percentages could change slightly.
Taxes to fund public schools, municipal and fire districts will increase approximately 1.28% this year and represent about 79% of the total tax bill.
County taxes, meanwhile, will increase 2.32% and represents about 21% of the total tax bill.
Together, this will result in approximately a 3.6% increase in the overall property tax bill, depending on the Fire District.
Last year, there was an overall 1.7% increase, depending on which fire district you reside within. Without this year’s larger than average county increase – we would likely have been at a similar level.
To say that I am frustrated; well, that is a gross understatement. In Monroe, we work very hard to set a stable municipal tax rate each year, doing all we can to leverage outside grants to offset the tax burden for residents.
The state refuses to alter the unfair county property tax system, in which well-run municipalities like ours are punished for our success and desirability.
People are eager to move to Monroe because local taxes are affordable, our community is safe, and we offer so many services for the tax dollar. That pushes up the value of our homes, and consequently, we are hit with higher county property taxes.
The Monroe Township tax bills will be mailed early next week and will include stubs for the final third and fourth quarter property taxes of 2024, as well as estimated 2025 first and second quarter property taxes.
Questions
The tax collector asked me to highlight two questions that her office often receives when tax bills go out.
1. (Q) Why are the 3rd and 4th Quarter (Aug/Nov) bills higher than the 1st and 2nd Quarter bills?
(A) As per state law, the first two quarters of the year are estimated based on the previous year’s tax rate. So, if there is an increase, in this case a 3.6% total annual increase, there are just two quarters to collect that increase for the County, School Tax, etc.
2. (Q) Why do you say “approximately” a 3.6% increase?
(A) Monroe has three separate fire districts, so each rate depends on the annual budgets of the individual districts.
Reminder: Your next quarterly tax payment is due Aug 1st and the grace period will be extended to August 23rd.
Residents will have 25 days from the mail date to submit their payment for the 3rd quarter. The grace period has been extended to August 23rd, after which interest will begin to accrue from the beginning of the third quarter.
ANCHOR Property Tax Relief Renewed
Lastly, one of my primary goals as Mayor was to convince the state to increase property tax relief for Monroe’s residents by expanding the former Homestead Rebate into the new ANCHOR program. The ANCHOR program is available to all residents (making less than $250k) and provided tax relief checks up to $1,500 earlier this year.
I am pleased to report that through our efforts ANCHOR was renewed in the fiscal ’25 state budget, despite it being a leaner year. We expect ANCHOR applications will open later this summer and we will again inform and assist residents with the application process.
ANCHOR Property tax relief checks will again be up to $1,500 for those eligible. This year, residents over age 65 can apply for up to $1,750 in property tax relief.
Sincerely,
Stephen Dalina,
Mayor
| 
