The levy imposed on real estate in Montclair, New Jersey, is determined by the local government and expressed as a percentage of the property’s assessed value. This charge funds essential municipal services such as schools, public safety, and infrastructure maintenance. For example, a levy of 2% on a property assessed at $500,000 would result in an annual payment of $10,000.
This revenue stream is vital for maintaining the quality of life and services that residents expect. Historical trends in these levies reflect the evolving needs and priorities of the community, often influenced by factors like economic conditions and population growth. Understanding the mechanics of this system, including assessment procedures and how funds are allocated, empowers residents to engage in informed civic discourse.
