Property taxes are an enforceable lien on the assessed property. Taxes are due on a quarterly basis on February 1, May 1, August 1 and November 1. All unpaid taxes become delinquent 8 days after the above due dates. The Township bills and collects its own property taxes as well as the taxes levied by the other taxing bodies within the municipality. Property tax revenues are recognized when collected. A reserve for uncollected taxes is established in the current operating budget to the extent that their collectability is improbable.
The following is a three-year comparison of certain statistical information relative to property taxes and property tax collections for the current and previous two years.
| 2014 | 2013 | 2012 |
|---|
| Total Tax Rate | $2.097 | $2.040 | $1.968 |
|---|
| Apportionment of Tax Rate: | | | |
|---|
| Municipal | 0.448 | 0.438 | 0.421 |
|---|
| Municipal Open Space | 0.020 | 0.020 | 0.020 |
|---|
| County | 0.396 | 0.390 | 0.364 |
|---|
| Local School | 1.233 | 1.192 | 1.163 |
|---|
Net Valuation Taxable:
2014; 6,647,971,808; 2013; 6,663,145,020; 2012; 6,710,626,337
Comparison of Tax Levies and Collection Currently:
| YEAR | TAX LEVY | CASH COLLECTIONS | PERCENTAGE OF COLLECTION |
|---|
| 2014 | $ 145,604,219 | $ 143,352,211 | 98.45% |
| 2013 | 141,851,869 | 139,207,257 | 98.13% |
| 2012 | 138,030,448 | 135,345,779 | 98.06% |
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