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MittenReckitt
Citizen
Username: Mittenreckitt
Post Number: 54
Registered: 4-2006
| | Posted on Sunday, July 2, 2006 - 9:05 am: | 
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I just received a Q3 tax bill that is higher than what I paid the last 3 quarters.
It was the first time I received a statement - I had been paying quarterly based on what the tax office told me I owed. We moved here in 2005.
Anyone else getting whacked with an increase?
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MHD
Citizen
Username: Mayhewdrive
Post Number: 4344
Registered: 5-2001
| | Posted on Sunday, July 2, 2006 - 9:40 am: |
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Well, the reality is that we get an increase every year. The question is "how much"?
As I understand it, the bill sent out is just an "estimate" since the budget has not been finalized, yet. As I calculated it, the "estimated" bill assumed around a 5% total increase. However, it appears the Municipal increase will be significantly larger than 5%, so I would guess when you receive your REAL tax bill later this year, it will be even higher.
Welcome to South Orange. |
fiche
Citizen
Username: Fiche
Post Number: 174
Registered: 3-2002
| | Posted on Sunday, July 2, 2006 - 10:35 am: |
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The first half of the the year (1st and 2nd Quarter) are based on the prior year's tax bill, so the first and second quarter will each be one fourth of the prior year's bill. The third and fourth quarter contain the entire increase for the year. The bill you received is an estimate, so your fourth quarter may be lower, the same or higher. Usually, when there is an estimate, it is pretty spot on, but I remember on year when it was significantly higher than it needed to be, therefore the fourth quarter was less by a couple hundred $$$. |
fiche
Citizen
Username: Fiche
Post Number: 175
Registered: 3-2002
| | Posted on Sunday, July 2, 2006 - 10:37 am: |
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Oh, by the way MHD, I don't believe there is a single municipality in the State of New Jersey that doesn't raise taxes every year. |
cmontyburns
Citizen
Username: Cmontyburns
Post Number: 1889
Registered: 12-2003
| | Posted on Sunday, July 2, 2006 - 10:39 am: |
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That notice, by the way, is pure government mumbojumbo. Says explicitly "THIS IS NOT A BILL," and later references "the enclosed bill." (Though it's only one page.)
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Pdg
Citizen
Username: Pdg
Post Number: 968
Registered: 5-2004
| | Posted on Sunday, July 2, 2006 - 11:30 am: |
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It only says it "is not a bill" if your taxes are escrowed and paid for by your mortgage bank.
We pay our taxes ourselves and our bill did not say it was not a bill, but rather clearly stated that if it is not paid by 8/10/06 interest will be charged at hefty rates. |
MittenReckitt
Citizen
Username: Mittenreckitt
Post Number: 58
Registered: 4-2006
| | Posted on Sunday, July 2, 2006 - 1:06 pm: |
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PDG, that's my situation as well.
If the Q3 bill I just received is annualized, I'm looking at a 10% increase.
Yikes! Can this be true?
MHD, I'm going to have to start attending these meetings with you.....that sculpture isn't worth it!
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peteglider
Citizen
Username: Peteglider
Post Number: 2039
Registered: 8-2002
| | Posted on Sunday, July 2, 2006 - 1:15 pm: |
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keep in mind that 1Q and 2Q bills don't have the "final" tax rate in them.
SO your 3Q and 4Q bills are higher to make up for the first half of the year.
Which I guess is something like a 5% increase...
/p |
MHD
Citizen
Username: Mayhewdrive
Post Number: 4345
Registered: 5-2001
| | Posted on Sunday, July 2, 2006 - 4:49 pm: |
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The notice that came in the mail says the estimated tax rate for 2006-2007 is 6.11
The tax rate for 2005-2006 was 5.82. Of that total rate, the breakdown was roughly as follows :
27% Municipal (including municipal open space tax)
17% County (including county open space tax)
56% School
An increase from 5.82 to 6.11 is approximately 5%, but that does not show the breakdown for the increase for each of the Municipal, County & School taxes.
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sac
Supporter
Username: Sac
Post Number: 3589
Registered: 5-2001
| | Posted on Sunday, July 2, 2006 - 4:57 pm: |
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The 3rd quarter bill is always disproportionately higher than 1st and 2nd for the reasons outlined in fiche's post above. I think that this is due to a fiscal year that runs July 1 - June 30, but I'm not absolutely sure. It may just be a budget timing issue. Your total bill for the year will be somewhere between the annualized amount for the 1st/2nd quarter bills and the annualized amount for the 3rd quarter bill. |
red_alert
Citizen
Username: Red_alert
Post Number: 291
Registered: 3-2005
| | Posted on Sunday, July 2, 2006 - 10:23 pm: |
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What % goes to waste and financial mismanagement?
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Politicalmon
Citizen
Username: Politicalmon
Post Number: 194
Registered: 9-2005
| | Posted on Thursday, July 6, 2006 - 2:53 pm: |
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How about the pensions formulation which yields higher then normal pensions for life, accumulating days off on the backend, family health care costs for life....Dare not say the word ' Time for centralized government ' it will give us the only tool available to stabilize this tax problem - for if we wait for the politicians to fix it we will watch our real estate value deflate in value as the tax liability increases at a rate greater then inflation.
This is why - shared services should NOT be OPTIONAL but the road a more fiscally responsible government.
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