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Tax Assessor

A Message from the Tax Assessor Regarding 2025 Assessment Increase

Assessment postcards were mailed on November 19th, 2024, detailing the new assessments for 2025. We want to take this opportunity to provide some background on what is occurring with property assessments in Roosevelt Borough and how it will impact the tax rate.

In recent years, the real estate market has experienced unprecedented growth, with property values steadily rising. For 2025, the total assessed value of all properties in the Township will be 17% higher than it was in 2024. However, this does not mean your taxes will increase by the same percentage. Instead, it reflects the overall rise in property values within the municipality.

Due to the inverse relationship between the total assessed value and the tax rate, higher assessments typically result in a lower tax rate. When the total value of all properties increases, the tax rate is adjusted to collect the necessary revenue for the budget. As a result, we anticipate that the 2025 tax rate will be lower than in 2024. However, individual tax bills will vary based on how much your property's assessed value changed relative to the overall increase in property values. If your property’s value increased by more than 17%, you may see a higher tax bill. Conversely, if it increased by less than 17%, your tax bill may decrease.

The assessment function serves as the distribution mechanism of the property tax levy, which includes municipal, library, school, open space, and county taxes. Since taxes are divided among property owners based on the market value of their properties, it's critical that the assessment process is uniform, accurate, fair, and transparent.

Monmouth County Property Tax Estimator and Frequently Asked Questions

Use the Monmouth County Tax Estimator to gain insight into your estimated 2025 tax bill and review the top 10 most frequently asked questions to better understand the reassessment process. Simply follow the instructions, input specific data related to your property, and the tool will provide you with an estimate of what you can expect to pay in property tax in 2025.

Please note that since the tool can only provide an estimate, you should be aware of the qualifications regarding the estimates generated. Please Note: The time to appeal property assessments is from November 15, 2024, to January 15, 2025. For properties valued over $1 million, the appeal deadline is April 1, 2025. Unfortunately, no property appeals may occur after April 1, 2025.

2024 Tax Rate: 2.735
2024 Ratio: 100%

Tax Appeal Filing - January 15th
(Post Card Assessment Notification is November 15th)

Farmland Assessment Filing - August 1st

Added Assessment Tax Appeal Filing - December 1st

The Tax Assessor establishes values for all real property within the Borough. It is this valuation that is the basis for the Borough’s property tax levy. Assessments are based on the market value of each property. Taxpayers can appeal their property’s assessment with the Monmouth County Tax Board, on or before JANUARY 15TH, of each year. 

Responsibilities of the Tax Assessor, in addition to establishing property values, include maintaining municipal tax records, including: property ownership and addresses, values, building and lot dimensions, and tax maps.

The Tax Assessor determines eligibility for all qualified farmland, tax exemptions, and deductions. Tax deductions available include: Senior Citizen, Disability, and the Surviving Spouse of a recipient of a deduction, Veteran, and Surviving Spouse of a Veteran. Please contact the Assessment Office to obtain applications for any of these programs.

$250 Property Tax Deduction for Veterans or Surviving Spouses

TO QUALIFY, see form - PROPERTY TAX DEDUCTION CLAIM BY VETERAN OR SURVIVING SPOUSE/CIVIL UNION OR DOMESTIC PARTNER OF VETERAN OR SERVICEPERSON

$250 Real Property Tax Deduction for Senior Citizens, Disabled Persons or Surviving Spouses
An annual $250 deduction from real property taxes is provided for the dwelling of a qualified senior citizen, disabled person or surviving spouse of the recipient of a deduction (widow/widower).

TO QUALIFY, see form - CLAIM FOR REAL PROPERTY TAX DEDUCTION ON DWELLING HOUSE OF QUALIFIED NEW JERSEY RESIDENT SENIOR CITIZEN, DISABLED PERSON, OR SURVIVING SPOUSE/SURVIVING CIVIL UNION PARTNER

Property Tax Exemption for 100% Disabled Veterans or Surviving Spouses
Certain permanently and totally disabled war veterans or the surviving spouses (widows/widowers) of such disabled war veterans and servicepersons are granted a full property tax exemption on their dwelling house and the lot on which it is situated.

TO QUALIFY, see form - CLAIM FOR PROPERTY TAX EXEMPTION ON DWELLING OF DISABLED VETERAN OR SURVIVING SPOUSE/CIVIL UNION OR DOMESTIC PARTNER OF DISABLED VETERAN OR SERVICEPERSON

Income and Expense Filing
Please Visit the Monmouth County Tax Board Portal at: https://taxboardportal.co.monmouth.nj.us/TaxBoardPortal/Home/Login for electronic filing of your Commercial Income and Expense. Should you prefer not to file electronically, forms are also available on the Log-in screen, or may be found on our FORMS page. Should you choose the paper method, please mail them to my attention at the Borough Hall. Thank you.

Annual Statement of Income and Expenses Form I & E-Commercial (MC4AB)

Farmland Assessment  (Annual Filing Deadline - August 1st)