The residents of Edgewater were asked by the Edgewater Board of Education a ballot question to fund $5,855,000 for operational expenses during the general election, this ballot question was approved by the voters. The assessment is broken down into two (2) quarterly payments; the 1st quarter tax bill due February 1, 2021 and the 2nd quarter tax bill due May 1, 2021, this is in addition to your regular quarterly tax payment. The tax bill you have recently received is the total of your regular tax bill and your proportional share of the additional school tax as it relates to the ballot question on election day. Both your mailed statement and on-line tax bill have been updated to include the additional school tax approved by referendum on November 3, 2020. The Borough of Edgewater is responsible for collecting all school tax, and once collected, it is given to the Edgewater Board of Education for the exclusive purpose it was approved and authorized for on November 3, 2020. The Edgewater Board of Education had many public meetings on this ballot question as well as the parent and teacher organization provided additional information to parents and voters through tele-conferencing and social media.
HOW WAS SCHOOL TAX CALCULATED INTO MY PROPERTY TAX BILL:The approved school referendum amount is $5,855,000, this gets divided into the total 2020 assessed value of all Edgewater properties which is $2,964,012,792. This calculation results in the tax rate of .197 which gets multiplied by $100 per assessed value of your individual property value. The approximate average assessment is $450,000 which after calculated results in an additional tax on this property of $886.50. This total gets divided into two for Tax Quarter 1 due February 1 of 443.25 and Tax Quarter 2 due May 1 of 443.25.