2007 Tax Rate
The certified and official 2007 tax rates have been presented from the County tax administrator. These new tax rates will have the new revaluation totals for the Borough of Lebanon.
Certification of the 2007 General Tax Rate |
||
| Lebanon Borough | Hunterdon County | |
| Amount | Rate | |
| Net County Tax Apportioned | 991,591.01 | .28837748 |
| Net Library Tax Apportioned | 86,287.21 | .02509431 |
| Net Open Space | 106,957.09 | .03110558 |
| District School Tax | 2,255,104.00 | .65583613 |
| Regional School Tax | 1,267,715.31 | .36868078 |
| Local Municipal Tax | 572,395.00 | .16646564 |
| Municipal Open Space | 0 | 0 |
| TOTAL TAX LEVY | 5,280,049.62 | |
| GENERAL TAX RATE TO APPLY PER $100 VALUATION |
$1.54 | |
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So what does all of this mean to you as a resident of Lebanon Borough?
Let’s use our home on 84 Brunswick Avenue as an example -
| New Assessment |
New Tax Rate (general tax rate of $1.54) |
New Taxes Paid | ||||||
| $550,600 |
x |
0.0154 |
= |
$8,479.24 | ||||
|
2006 Taxes paid |
Increase in Taxes |
|||||||
|
$8,479.24 |
- |
$7,579.25 |
= |
$899.99 |
||||
Based on the new assessed value of $550,600, we will see an increase of $899.99.
This increase will be spread over the 3rd and 4th Qtr of 2007.
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