Tax Bill Arrives in the Mail with increase

The new tax bill arrived and Lakewood homeowners got smacked with a  new tax increase. The new tax rate is 2.18%  homeowners will now pay $2,186 a year in property tax for every $100,00 of assessed value. A home assessed at 500,000 will be paying close to 11k a year in taxes. In 2017 the rate was 1.95%. Taxes went up this year across the board from Municipal taxes BOE taxes and  Fire taxes. Breaking it down the municipal portion went up on average $160 a year $48 dollars for each $1000,000 of assessed value and the BOE taxes went up a 2.9 increase in the tax rate from  1.012¢. to $ 1.041¢ a  average of $160

  Lakewood shopper reports according to this tax rate figure, an average townhouse which is assessed at $417,900 will be assessed a tax of $4350.33, up from $4229.14 that was assessed at the 2018 rate (a $121.18 annual increase just for school dostrict taxes)