Monday, July 11, 2016

Lakewood homeowners can save $503 in property tax relief under Christie fairness formula, TR $638

NJ.com reports According to an analysis released by the governor's office 368 towns would see property tax reductions including 90 municipalities that would experience at least $2,000 in average household savings. Under the new school funding formula the average Lakewood resident will see a reduction of $503 in property tax relief. Of course thats if costs and other out of control spending are kept in check. Jackson residents will save $246 Toms River $638. Unfortunately, other towns will see a major property tax raise, the town of Passaic, NJ according to a report in NJ advanced media will see a rise up to a whopping $12,385 to offset the cuts.

6 comments:

  1. We wont save a penny so long as special education expenses. People move to Lakewood because of the wonderful schools and services for special ed but it comes at a great expense to taxpayers. The state has to change its formula on special ed that is what is where a big chunk of taxes are going to.

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  2. You can't expect the State to change its formula because people want to,live from other states and countries to take advantage of the great special ed facilities in Lakewood.

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  3. So is the savings $500 or $2000??

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    1. for Lakewood its $500 the average across NJ is $2000

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    2. The state mandates on special ed is very high costing over 90K per kid!! in Lakewood the state only factors in the ratio for special ed funding based on the 5 thousand kids in public school. It does not factor in our uniqe situation that we have much more children with special ed needs since there are 30,000 in private schools but the local school district must foot the bill for all the special ed students coming out of the 30,000 private children. When outsiders move to Lakewood to benefit from SCHI or other special ed schools it comes at the expense on the taxpayers. They may have no choice and have to do whats best for their child but that is the reality.

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  4. Some askanim helped lobby state officials in changing laws which are favorable to special ed schools but the taxpayers are the ones footing the bill. Its not an easy shikul here but when people cant afford to live because of rising property taxes something has to be done.

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