Property Taxes will be less this year

[James Taylor]

I am very pleased to let residents know that your property tax rate will be less this year than last year. A house with an assessed value of $650,000 will save $45.

The overall tax rate this year will be 1.898 as opposed to 1.905 in 2014.

[anon-0111]

Thanks!

[anon-ppq7]

Is this because the tax base has increased?

[anon-0112]

Yep, mine is $51 less than last year's.

FYI:
My property tax over the years (rounded):

2003 $8,400
2004 $8,700
2005 $8,500
2006 $9,100
2007 $11,100 <=== 22% increase (housing bubble peak)
2008 $11,600 <=== financial market crash
2009 $11,600
2010 $11,800
2011 $12,600
2012 $13,300
2013 $13,300
2014 $13,800
2015 $13,700

[anon;40qs-58q6]

You can be sure that decrease will be short lived. Once the new warehouses with the additional heights are "on line" you can be sure that Mr. Mulligan will find zillions of tech things to spend those dollars on and Ms. Goetz will find some more of her "professionals" to give us expensivive reports and Mr. Cook will have us dredging the lake so his lakeside property is "Pristine" and yes there are other projects that will suck up "GRANT" money from our taxes that will "BEAUTIFY" an ever deteriorating downtown of never failing businesses. When will the powers that be get real and leave well enough alone and be happy with things the way they were before the "Nothing is too good for us " crew arrived or in some cases returned from the city to spend our money and erect memorials to themselves!!

[anon-461o]

Wowwwww!!!!! And your probably the first one to complain about every little stupid thing that goes on in town. You can run for a commitee position? Shut up?? Or move if you have it that bad in our town.

[anon-7789]

It just shows this person is out of touch. I know for a fact no one from the TC lived in "the city" and it makes it sound like we're all rubes.

The height allowed the TC to finalize a deal to bring in new warehouses which keep our taxes down.

Seems to me this TC has done a better job of financial management given the drop in property values than any TC I can recall in the last 30 years.

Taxes went down and someone complains? As a native born and raised I don't see that as being old time Cranbury, but a trolling post. Which seemed to work. I am amazed anyone volunteers to be on the TC.

[anon-8r02]

[anon-p0os]

[anon-4003]

[anon-5651]

I am not sure that person was complaining. As the taxes highlight despite the loss of property value and revenue falling dramatically from the warehouse district our taxes increased very little.

The taxes in East Windsor are much worse.

[anon-583p]

Over the 12 year period, the taxes went up over 63%, or approximately 5% per year. Over this same period, the CPI has been running 2-3% per year. The school population has also dramatically fallen over this time frame (many grades which had 3 classes of 22-24 children, now have 2 classes of 20-22).

Given the low inflation rate, and a decrease in school population (school being a major component of our taxes), I am not sure why our tax burden has gone up at ~ twice the inflation rate.

[anon-5651]

Because the warehouse values dropped. If the overall tax base declines then the tax rate has to increase to bring in the same amount of money.

If a home stays flat and a warehouse decreases a million in value then the home will have a higher cost even if the budget remains flat.

If the town's tax base were flat or growing the impact would be minor. A 5% average increase while town value has dropped in the millions isn't bad. I don't think the town value is anywhere close to 2007.