1. Different tax rates: The property tax rate in East Windsor is higher than in Monroe. The exact rate varies depending on the specific property and its location, but in general, East Windsor's property tax rate is around 2.5%, while Monroe's is closer to 1.8%. This difference in tax rates can account for a significant portion of the difference in property taxes paid by homeowners in the two towns.
2. Different property values: The average home value in East Windsor is also higher than in Monroe. According to recent data, the median home value in East Windsor is approximately $550,000, while in Monroe it is closer to $400,000. This difference in home values means that homeowners in East Windsor pay more in property taxes simply because their homes are worth more.
3. Different levels of municipal services: East Windsor may provide a higher level of municipal services than Monroe, which could contribute to the higher property taxes. For example, East Windsor may have more parks, better schools, or more police and fire protection. These additional services can require more funding, which can lead to higher property taxes.
It's important to note that these are just a few of the potential reasons why the property tax in East Windsor may be higher than in Monroe. The exact reason for the difference may vary depending on the specific circumstances of each town.