How do I estimate future property tax increases?
To estimate future tax increases, monitor your municipality's annual budget proposals, watch for reassessment or revaluation announcements, and track changes in local school budgets which make up the largest share of property taxes. Historical trends in your town can give you a general idea. Most Burlington County towns see annual increases of 2 to 4 percent depending on local budget needs.
Why It Matters
Anticipating tax increases helps you budget realistically and avoid payment shock when your lender adjusts your monthly escrow amount.
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