Lakewood residents were shocked as the new tax bills and assessments arrived in the mail. Some residents will see more than 10% tax increase for this coming year after the township and BOE have all increased their budgets and raised property taxes. The committee members also voted to increase their salaries at the beginning of the year after raising it last year in 2022. Hard hit, are seniors who are living on fixed income from social security. NJ just passed a law that will offer New Jersey homeowners 65 and over tax credits worth up to half of their property tax bills, to a cap of $6,500, as long as they make no more than $500,000 a year.
The hot real estate market has caused home values to increase yet residents are not selling or at a position to move away.
The mayor who is up for reelection this year was asked about this in a recent township meeting where all the money going from the new construction and homes was built. why is the township giving away tax abatements that won't benefit the taxpayers until 30 years from now? The mayor said that due to the growth they had to expand the police force and other municipal services. Mayor Ray Coles was asked about the tax abatements and he responded that in 30 years our grandchildren will benefit when the full taxes kick in. Several residents sent comments asking the committee to cut their salaries which are way higher than neighboring towns and why should the deputy mayor get a salary double than the other committeeman.
The Mayors salary increased from $80,00 to $88,000 it was $71,000 in 2021 and in 2018 the it was $34,00. Members of Township Committee salary will increased from $65,500.00 to
$73,500.00 and the deputy mayor gets another $68,250.00. Last year the committee voted to give lifetime health insurance to all its members who serve for 20 years and MUA members also increased their salary from 5k -10k which includes the mayor committeeman Lichtenstein and Deputy Mayors spouseThe total annual tax bill for FY '23 for a similar new duplex in Oak and Vine will be $13,898.976, which represents a $848.49 increase.
FAAnews reported Lakewood's Township Committee this past year granted short and long-term tax abatements to 36 new commercial buildings around town. This resulted in a loss of over $5.77 million in tax revenue for this year alone. This tax increase would not be necessary had the Township Committee not granted numerous long and short-term tax abatements this year
Had all these properties been assessed their full taxable value, our taxes would have actually decreased. Instead, our taxes are increasing to make up for the lost revenue.
This municipal budget is only one of 4 portions of our single tax bill, which also the budgets for the Lakewood Board of Education, Fire District, and Ocean County. Not all of these budgets have been finalized yet. However, the Township estimates the total tax levy of these other budgets to be $178,159,177.06. Combined with the municipal budget, the total tax levy will be $257,332,100.71
Hard hit, are seniors who are living on fixed income from social security. NJ just passed a law that will offer New Jersey homeowners 65 and over tax credits worth up to half of their property tax bills, to a cap of $6,500, as long as they make no more than $500,000 a year.
ReplyDeleteGuilty like the rest of the media - First you write about the poor seniors living on Social security but than you give a tax credit to seniors making up to 500K?
The Democrats just bought themselves thousands of votes!!
I deserve every penny I take. And just so you should know, every one of those many extended leaves I take throughout the year from my part time committee job to go to some far out military base.. I do that only because I care about the residents of this town. I serve and protect them wether I’m in Lakewood, Texas, or Iraq.
DeleteSo, I don’t want to hear any complaints about the unfairness of my salary or how much more I’m paid than committeemen in every other town in NJ. If anything, I should be getting at least triple what I’m getting!
Besides, if you’re good to me, I’ll make sure to take good care of you. Just ask some of my buddies..
Increased should be salaries with weed not dollars.
ReplyDeleteBetter answers about sidewalks will then be forthcoming, and left turns.
Just wait until the state stops lending us money to pay back the money it is lending us. Might as well sell your houses now before the bottom falls out! Thank you BOE!
ReplyDeletePeople don't understand how abatements work. The people who own the buildings don't pay it, the tenants do, through something called "CAM." Abatements are a way of making office space affordable for smaller business tenants.
ReplyDeleteWhat the township should explore is a way of making sure that high-end office space doesn't get abatements. Can they cap what abated buildings can charge per square foot, when compared to the rest of the town?