Tax Hike May Be In Cards For Nutley Homeowners: 2023 Town Budget

NUTLEY, NJ — A tax hike of about $227 is coming for the average Nutley homeowner under the town’s latest proposed budget, according to preliminary figures.

The Nutley Board of Commissioners introduced the proposed municipal budget during their April 4 meeting (watch the video below). The budget can be seen in full here.

The board also gave a green light to an ordinance to exceed the municipal budget appropriation limits and to establish a cap bank.

Commissioner Thomas Evans said the amount to be raised from local taxpayers – including for the library – comes to $44.94 million. The proposed budget would mean a municipal tax bill of $4,438 for a Nutley homeowner with a property assessed at $496,801, a $227 increase from last year.

Evans pointed out that the average home assessment has risen about $170,861 since a recent round of revaluations in the township.

• Read More: Nutley Housing Market Is 'Booming,' Home Values Soar: Officials
• Read More: Nutley Residents May Get 'Sticker Shock' Over Property Revaluations

Evans emphasized that the latest municipal spending plan isn’t final yet, and the final figures may change before a public hearing for the budget on May 2.

Property taxes in New Jersey are made up of three parts: school, municipal and county. See Related: Property Tax Bills In Belleville And Nutley Are Growing, NJ Data Shows

Here’s how that played out in Nutley last year:

• School – 50.1%
• Municipal – 33.8%
• County – 16%

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