The Randolph Township Department of Finance is overseen by the chief financial officer (CFO) and provides for the coordination of all the township’s fiscal operations. It controls budgetary expenditures, administers the township’s debt and cash management programs, prepares year-end financial statements and makes recommendations to the township manager and township council with regard to financial policy.
The township’s excellent financial management practices and fiscal responsibility are reflected in its “AAA” bond rating from Standard and Poor’s and “Aaa” bond rating from Moody’s.
Within the finance department are the following divisions: assessments, tax collection & treasurer, and water & sewer.
Division of Assessments
Headed by a certified tax assessor, this division is responsible for determining the fair market value of every parcel of real property in the township and maintaining assessment records for each. It is this valuation that is the basis for the township’s property tax levy which, for 2014, totaled $103,148,967. The township’s 2014 ratable base was $2,897,693,570, representing a .18% decrease over the prior year. For more information regarding property assessments and/or appeals in Morris County, please visit the Morris County Board of Taxation website.
Upcoming Township-Wide Revaluation
Get an explanation of the process from Appraisal Systems, Inc.
Division of Tax Collection & Treasurer
This division works closely with the tax assessor and is headed by a certified tax collector who prepares tax bills, maintains an accounting of all tax collections and enforces the collection of delinquent taxes through foreclosure of municipal tax liens and municipal tax sales. The township’s tax collector has put together an information page to address the most frequently asked questions about property taxes in the township.
Division of Water & Sewer
The tax collector oversees all financial activities associated with the township’s water and sewer enterprises. It is responsible for preparing and processing quarterly service charges and maintaining records of water consumption and sewage system usage. The division presently manages approximately 5,600 water accounts and over 3,800 sewer accounts.