On Nov 7, 2017 Monmouth County residents will be asked to vote on the open space tax increase which is used to fund the preservation of open space land, conserve natural resources and protect water quality. Overall the current revenue of $17.7 million would increase to $33 million. Here are a few examples of how the increase might impact you on an annual basis:
Assessment | Current 1.5 Rate | New 2.75 Rate |
$200K | $30yr | $55yr |
$400K | $60yr | $110yr |
$600K | $90yr | $165yr |
$800K | $120yr | $220yr |
Keep in mind there may be an slight modifications to this in your local town so do some research before you go to the polls.