The average Montclair homeowner pays nearly 3.5% of their home value in taxes each year; much higher than any other municipality in the area or in the country. If local residents would scrutinize township affairs and spending, as they probably do their own budgets, we might be able to reign in this situation. As it stands, it is unsustainable. It is also discriminatory against fixed income homeowners, who are largely the retired and elderly. Montclair, which prides itself of being diverse, inclusive and equitable, runs a serious risk of becoming a town solely of yuppies who are in their peak earnings years. Our taxes have been going up at multiples of the inflation rate every year for what is approaching now two decades! That's astounding. We should strive for a flat budget for the next decade - the headlines alone ("Montclair Gets its Fiscal House in Order") would raise our property value and get our tax rates back in sync with our home values. If we don't do this, when the inevitable next housing downturn comes, Montclair will be in for a major financial crisis.
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