GET THE FACTS: Your Property Tax Bill 

Who is in Charge of Your Tax Dollars? 

How does Mountain Lakes rank for average residential property taxes vs. other New Jersey municipalities?

  • #44 for Municipal Taxes:

    • The Borough of ML ranks #44 in New Jersey for the municipal portion of your tax bill – the part that Borough Council controls

  • #1 for School Taxes

    • The ML School District ranks #1 in NJ for the school portion of your tax bill – the part that the Board of Education controls

  • #6 for Overall Taxes

    • ML's overall ranking is heavily weighted by the school portion of your tax bill (68%) 

 

(Rankings based on State of NJ Dept of Community Affairs 2019 data; 2020 data not yet available)

The Borough of Mountain Lakes collects 100% of your property taxes. It retains the municipal portion – and disburses the school tax portion to the Mountain Lakes School District and the county portion to Morris County.  Taxpayers pay ONE property tax bill, but Borough Council, the Board of Education, and County Freeholders have complete control over their own portion of those taxes.

  • 21% of your tax bill is controlled by Borough Council (the municipal portion)

  • 68% of your tax bill is controlled by the Board of Education (the school district portion) 

  • 11% of your tax bill is controlled by Morris County Freeholders (the county portion)

Note: The average municipal portion of the property tax bill in NJ is 29%. In Mountain Lakes, it is 21%.  

​​2020 Borough of ML Budget

$10,150,000 - 2020 Annual Budget          

1530 - Taxable Properties (approximate)            

$800,000 - Average Value of Taxable Properties            

$4,572 - Average Borough Tax per Property                

$381 - Average Monthly Tax per Property                 

$899,000 - 2020 Sewer Utility Budget          

$869,000 - 2020 Water Utility Budget          

 

 

$4,572 in 2020 - Average Borough Tax per Property


$381/month covers:

  • Borough Administration (Manager, Clerk, Tax Assessor, Tax Collector, Financial Administration, Building Official, Planning, Zoning, Code Enforcement)

  • Police Department

  • Volunteer Fire Department

  • Recreation

  • Health & Animal Control

  • ML Public Library

  • Garbage Collection

  • Snow Plowing

  • Street Cleaning

  • Buildings, Grounds & Parks

  • Tree Work

  • Lakes Management

  • Road Repaving

  • Sidewalk Projects

  • New Birchwood Facility

  • New Island Beach Facility

  • Vehicle Purchases (Police, Fire & DPW)

Average Municipal Taxes

(2013-2016 vs. 2017-2020)

      

                             

Tax Bill Increase ($)

 2013-2016                    2017-2020                              

$ 837                                  $ 463

Average Annual Increase

 2013-2016                    2017-2020                            

$ 209                                  $ 116

 

Note: Average Taxable Property Value = $800K

 

2013-2016

  • Municipal taxes increased a total of $837 on the average property

  • This represents an average annual increase of $209

 

2017-2020

  • Municipal taxes increased $463 on the average property

  • This represents an average annual increase of $116

 

For additional Information about your property taxes:

 

Borough of Mountain Lakes 2020 Budget Presentation:  https://mtnlakes.org/wp-content/uploads/2014/11/2020-Budget-Presentation-Final.pdf

NJ Property Tax Guide:  http://njpropertytaxguide.com/NJCPA_PROPERTY_TAX_GUIDE_BROCHURE_LOW.pdf

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