Property tax bills are going up in Morristown.
On Monday, Aug. 26 the Morristown Select Board set the town’s residential tax rate at $2.35 for every $100 of property value; the non-residential rate, for businesses and second homes, was set at $2.49 per $100 of property value.
Both rates represent increases over last year’s rates; the residential rate last year was $2.26, nine cents lower than the new rate, while the non-residential was seven cents lower, at $2.42.
Those increases will see tax bills go up for property owners across Morristown. This year the bill for a primary residence valued at $100,000 will be $2,354, about $92 more than last year.
The bill for a secondary home or business valued at $100,000 will be $2,493, approximately $70 more than last year’s bill.
The increase in the bills for both types of property are due to increases in both the local municipal tax and the school tax. Morristown’s municipal rate approved Monday night is roughly 91 cents; the education rate is $1.45. Last year the municipal rate was 88 cents; the education rate was $1.38.