For a typical Lakewood duplex assessed at approximately $500,000, the municipal portion of the property tax has increased dramatically over the past five years. Based on the municipal tax rates, the municipal tax would have been approximately $3,455 in 2021 compared with approximately $4,895 in 2026 an increase of about $1,440 per year, or 41.7%. The increase in 2026 alone is approximately $720, or $60 more per month. Total approximately $14,000 a year.
And this comes at a time when the Township has sent residents a confusing tax bill marked “for advice only,” without clearly stating when the amount is actually due.
Look at where the money is going: approximately 23% of the total property tax bill goes to the county, 36.8% goes to the school tax, 35% goes to the municipality, and about 4.9% goes to the fire district. The municipal portion is now almost as large as the school tax portion. For a $500,000-assessed duplex, that means nearly $4,900 a year just for the municipal portion.
At the same time, Lakewood parents are paying an average of roughly $5,000 a year in school taxes through their property taxes, while not even receiving courtesy busing, and paying an additional $700 per child for transportation. That raises a basic question: What are property taxpayers getting for the taxes they are already paying?
With the municipal portion alone rising by roughly 42% in five years, residents have every right to ask for accountability, transparency and answers about spending.
And with the Township Committee election coming up, now is the time for residents to pay attention, ask questions where's all the money going?
Officials keep blaming everyone else but themselves while they were in charge for the last 20 years.