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Reassess Property Values? - Just a Thought

Is it finally time for the township to reassess all property values?

I find it very odd that no one made a comment when I proposed the township perform a total property reassessment as a way to avoid property tax rate increases (when the total amount the School District requires from local property tax payers remains the same or decreases). The last few property tax rate increases are due to all of the successful property tax assessment appeals reducing the township's total property tax value.

I made that comment in response to an article about the Board of Education proposing a budget for the Executive County Superintendent to review that reduced the amount required from local property taxpayers, but raised the tax rate.

I admit I don't know how much a reassessment project would cost (that should be a factor in deciding whether it is feasible). However, I don't hear anyone, especially those who comment about not wanting tax rate increases, suggesting a reassessment.

What do you think?

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Jack Wagon April 05, 2012 at 08:26 PM
I already appealed my prop. taxes and won. I don't have a crystal ball but I probably should have waited. Looks like real estate values have been forecast to continue to decline until 2013 and then be stagnant for sometime thereafter.
Marty Abschutz April 05, 2012 at 09:51 PM
Jack, Does that mean your tax bill went down even thought the tax rate went up?
Jack Wagon April 06, 2012 at 01:55 AM
Yes, I am now paying less annually in prop. tax than I was two years ago because my assessed value after the appeal was far less than the township was originally assessing my property. If you haven't appealed yet this year, unfortunately, I think it's too late. You'll have to wait until next year. I think you only have until April 1 to appeal in any given year.
Winston April 06, 2012 at 02:06 AM
Yawnnnnnn...Marty you post with forked keypad! All this nonsense would do is cost everybody money, then you and the tax and spend BOE would just juggle the rate to increase taxes. I don't understand that you, a BOE tax raiser, would waste time posting this fairy tale?
Marty Abschutz April 06, 2012 at 02:20 AM
Seems that if the township had done the reassessment it would have saved you the trouble and we wouldn't have a tax rate increase from the school district the last three years and next year.
Jack Wagon April 06, 2012 at 10:16 AM
Agree Marty, but I wasn't waiting on the township and a hypothetical reassessment. My suggestion to everyone a while back in a post was to appeal their prop. taxes or they're leaving money on the table. It's easy and relatively inexpensive. In most cases, you could either file for an appeal yourself or hire a lawyer that gets paid a percentage contingent on the total first years savings. The lawyer does the rest and in a lot of cases, appeals are settled before they even go to before a judge in tax court. The lawyer working on a contingent basis won't even take the case if they don't feel there is enough savings to warrant an appeal. The only other cost is for a certified appraisal with comps. The lawyer usually recommends an appraisal company.
Jack Wagon April 06, 2012 at 10:36 AM
A lot of townships are already reassessing on their own just to avoid all the appeals. I own residential & multi-family rental properties in 4 other townships in NJ, and the tax assessor never even came out to do a reassessment in either of those two cases. They just lowered my assessed value. In one case, the tax assessor just lowered the assessed value based on the price I purchased the property in 2010, which was far less than the assessed value, no appeal necessary, although I was preparing for the appeal. In another, they also lowered my assessed value without an appeal. I only found out when my annual tax assessment postcard came in the mail. I did have to appeal here in SB and in 2 other cases and won all three appeals without a fight from all three townships.
Dan April 06, 2012 at 11:22 AM
"Jack", in some of your cases, the assessed value went down. I would expect mine to go up dramatically, having purchased my home in 1996! So unless there was a corresponding (downward) adjustment in the rates, and even with that, I would expect my taxes to go up, perhaps significantly. So why do I want a reassessment??
Marty Abschutz April 06, 2012 at 11:38 AM
Dan, It sounds like you think property values were higher in 1996 than today. Two points: if you are content with the school tax rate going up solely because others have successfully appealed their property tax value, then you are right: why would you want a reassessment? The second point is an unknown: As a practical example, if your assessed value would go up ten percent and the average assessment increase would be 20%, you would come out ahead. If your assessment goes up 20% and the average is 10%, you would not come out ahead.
Winston April 06, 2012 at 12:03 PM
People....this school tax/assessment discussion sounds like a conversation in an entry level college philosophy course class room....in other words it doesn't make a difference! Until the SB BOE, Union thugs and their supporters abandon their goals of bigger budgets, fatter beneifts and taking control away from parents and voters and stop their mismanagement of our tax dollars....we will always have a tax increase no matter what your home value and/or assessment is or what Marty say!
I am RIGHT April 06, 2012 at 01:11 PM
Christie now has the teachers paying 30% of the health benefits. That must be a cost savings for the tax payer since the teachers used to pay 0%.
Marty Abschutz April 06, 2012 at 01:11 PM
Jack, In the towns where they did the reassessment unasked: any idea how much they spent on the reassessment?
Joe R April 06, 2012 at 02:52 PM
Winston, you are the thug not the teachers union, who are the teachers. Don't hand me this garbage that you love the teachers but hate the unions. The teachers are the union and vice versa. The war against unions has been going on for 30 years and now the war against public unions, especially teachers' unions has gone into high gear across the country. I am right, wrong.Teachers paid into their health care via deferred compensation. Christie has not denigrated the police, state police and firefighter unions as he has the teachers' unions. Unions leveled the playing field between management and employees. Without unions, middle class wages are stagnant and losing ground. It's pointless trying to dialogue with a hater like Winston but I have a right to present my side as Winston does his side.
Jack Wagon April 06, 2012 at 04:54 PM
Dan, If you wouldn't want a reassessment, you should want to appeal. I bought my house in SB 1996 also. New construction. It is worth more now (as per comps.), but not as high as the township said it was worth. They had no choice but to lower my taxes.
Jack Wagon April 06, 2012 at 04:59 PM
Unions are slugs, Joe. We've gone over this. The middle class is losing ground because of, and despite the unions.
Jack Wagon April 06, 2012 at 04:59 PM
Right. That's why the only defense you have is to appeal your property taxes.
Jack Wagon April 06, 2012 at 08:20 PM
I probably could look it up, it was North Plainfield and Toms River.
Winston April 06, 2012 at 08:53 PM
Oh...yea....I hate haters who hate hate! So there Comrad Joey!

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