Q: When are property taxes due in Monmouth County for fiscal year 2025?
A: Property taxes are typically due April 15th annually in most Monmouth County municipalities, though some towns may offer quarterly payment options or have different due dates. Check with your specific municipality for exact payment schedules.
Q: What tax credits are available and do I need to apply?
A: Available tax credits include Homestead Credit (caps assessment increases), Senior Citizen Credit (age 65+), Veteran Credit, and Disabled Person Credit. All credits require separate applications filed with your municipal assessor and are NOT automatically applied to your tax bill.
Q: How does the Homestead Credit work?
A: The Homestead Credit limits annual assessment increases rather than reducing market value. It typically caps assessment growth at 10% per year for eligible homeowners. You must file an application with your municipal tax assessor - it is not automatic and must be renewed periodically.
Q: When can I appeal my property assessment?
A: Assessment appeals must be filed with the Monmouth County Tax Board by January 15th of each year. Late appeals are generally not accepted unless there are extraordinary circumstances.
Q: What are the penalties for late property tax payments?
A: Late payment penalties typically include interest charges of 8% annually, plus potential lien placement on the property. Continued non-payment can result in tax sale proceedings.
Q: Can I pay property taxes online?
A: Most Monmouth County municipalities offer online payment options through their official websites or third-party services. Check your tax bill or municipal website for specific online payment portals and any associated convenience fees.
Q: Why did I receive a supplemental tax bill?
A: Supplemental taxes are issued when property assessments change mid-year due to new construction, major renovations, ownership changes, or assessment corrections. These are prorated for the remaining months in the fiscal year.
Q: How often are properties reassessed in Monmouth County?
A: Reassessment schedules vary by municipality within Monmouth County. Some towns conduct annual reassessments while others may reassess every 3-5 years. Contact your municipal assessor for your area's specific schedule.
Q: What happens if my escrow account is short?
A: If your escrow account lacks sufficient funds for tax payments, your lender will typically pay the taxes and bill you for the shortage. Your monthly escrow collection will also increase to prevent future shortages.
Q: Are special district taxes included in my regular property tax bill?
A: Yes, special district taxes for fire protection, libraries, lighting districts, and municipal utilities are typically included on your regular property tax bill, though they may be listed as separate line items with different rates.
