|Tax and Finance Department|
Laura Geraghty, CMFO, CTC
Chief Financial Officer
Deputy Tax Collector
Tax Payment Options:
Tax bills are mailed once a year in the month of July. The bill has four payment stubs, with the first payment being due on August 1st. Quarterly Tax Payments are due on February 1st, May 1st, August 1st, and November 1st. Normally, there is a 10 day grace period for each payment due. If tax bills are delayed, the grace period is extended to 25 days from the date of mailing of the bills. In accordance with New Jersey State law, payments made after the grace period accrue interest at the rate of 8% per annum for the first $1500 due and 18% per annum for all amounts owed over $1500.
Tax Bill Calculation
Your tax bill is calculated based on the assessment of your property, which is set by the Tax Assessor on October 1st of the previous year, which is then multiplied by the current year’s tax rate. The yearly bill is a combination of the Municipal, Board of Education and County tax rates, which are set upon the adoption of each entity’s respective budget. The February and May tax payment amounts due are estimated and equate to ½ of the previous year’s total bill. The August and November payments due are based on the total taxes due for the year less the 2 payments previously billed for February and May to arrive at a balance due for the year that is then divided into two quarterly payments.
The Monmouth County Board of Taxation website, www.visitmonmouth.com, has assessment information (including instructions on how to file an appeal of your assessment), records search and municipal data.
Remittances requiring receipts must be accompanied by the entire tax bill and a self-addressed stamped envelope. Otherwise, detach the appropriate stub and mail with your payment to the Office of the Tax Collector. Your canceled check will be your receipt.
Rebates and Deductions
The State of New Jersey has instituted several rebate programs regarding property taxes.
Added Assessment Bills
If improvements are made to your home, you may receive an “added assessment” bill in October. This bill must be paid in addition to your regular tax bill. If your mortgage company is paying your taxes, a copy of the assessment bill will be mailed to them. However, not all mortgage companies pay added assessments. It is ultimately the homeowner’s responsibility to find out if the mortgage company will pay or if the homeowner must submit payment directly to the tax office.
Tax bills are only mailed once a year and are not always transferred at closing. It is the new homeowner’s responsibility to obtain tax information. A copy of your tax bill is always available at our office per your request.
Any municipal lien, (including sewer balances) remaining unpaid on the eleventh day of the eleventh month of the current fiscal year is subject to tax sale at any time thereafter per N.J.S.A. 54:5-19.