Upon the filing of certified adopted budgets by the township, the Township's Local School District, Fire Districts, and the County, the tax rate is struck by the Middlesex County Board of Taxation based on the certified amounts in each of the taxing districts for collection to fund the budgets. The statutory provision for the assessment of property, levying of taxes and the collection thereof are set forth in N.J.S.A. 54:4 et seq. Special taxing districts are permitted in New Jersey for various special services rendered to the properties located within the special district.
Tax bills are mailed annually in July by the Township. The taxes are due February 1, May 1, August 1 and November 1. A ten (10) day grace period is provided by Township resolution.
Tax installments not paid by the due date are subject to 8% interest on the first $1,500.00 of the delinquency and 18% on any amount in excess of $1,500.00. Also, any delinquency exceeding ten thousand dollars ($10,000.00) pays a six percent (6%) penalty. These interest and penalties are the highest permitted under New Jersey statutes. Delinquent taxes open for one year or more are annually included in a tax sale in accordance with New Jersey statutes. Tax liens are annually assigned to the Township Attorney for "in-rem foreclosures" in order to acquire title to these properties.
The Township's financial operations were fully computerized with state of the art equipment. This permits the Township to closely monitor revenues and investments. If a shortfall occurs in the collections, delinquent notices can be sent immediately. By implementing up to date collection methods, a 99.86% collection rate was achieved for SFY 2009 which ended June 30, 2009.
How To Read Your Tax Bill
Note: For Old Bridge residents who are registered online there is a detailed breakdown of the tax information for each property.
In July of each year the Township of Old Bridge will be sending out one bill annually. Included in that bill are payment stubs for August & November 2011 and February & May 2012. Each new bill shows a comparison of the current year total to the prior year total.
The calculations used to determine the tax amounts are set by the Division of Local Government Services. Each year the first half billing is 50% of the prior year tax total. In July of each year the tax rate is established. That rate is multiplied by the assessed value of the property to establish the updated annual billing. To determine the second half billing the first half billing is subtracted from that annual total.
Items of Interest
Listing files in 'Finance-Tax Collection-Purchasing'