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Gerardryan
| | Posted on Wednesday, January 24, 2001 - 11:29 pm: |     |
These are questions added after the flyer from part 1:
Can any tax changes be phased in over time?
The "Revaluation Relief Act of 1993" allows for a three year phase in of changes from a revaluation. This law has never been used. The Township is using the additional time gained by the extension to work with the State Division of Taxation to investigate this.
If a revaluation causes an increase in taxes, that will affect my property value negatively. Why canât that effect be taken into account in the reval?
It can't be taken into account because the law does not allow that to happen. Montclair tried to do this in a revaluation, and their revaluation was challenged in court and overturned.
Did Certified have comparable sales information? Did they use that information, and how?
Yes they did, per their contract with the Township. They stated that they used three years of comparable sales data, and that they weighted 2000 sales much more heavily than they did 1999 or 1998 sales.
Will residents who didnât speak with Certified Valuations still get whatever adjustments were made on a blanket basis as they pertain to their properties?
Adjustments were made to neighborhoods, and these will apply even if you did not meet with Certified.
Does the state or county insist that towns follow certain procedures in doing an assessment?
Yes the procedures are controlled by the state, according to the NJ Assessors Manual.
Who can authoritatively tell us whether Certified followed those procedures?
The Township Tax Assessor.
If Certified made errors, does the County Assessor have the ability to correct them?
The Township Tax Assessor can make adjustments.
Have any lawsuits been filed concerning the Reval?
Not as far as we know
Has the possibility of delaying the Reval until 2002 been discussed with the State tax authorities?
Yes. There is concern that the Township might be subject to a very large number of tax appeals from homeowners that know that their property is over assessed, creating a large negative impact on the tax rate.
How are investment properties taxed? As commercial or as residential? I understand that there are a lot of houses in town owned as investments.
If they are residential properties then that is how they are classified and assessed. |
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