taxes reassessed

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Author Message   taam Citizen Username: Taam Post Number: 86 Registered: 1-2006 Posted on Wednesday, March 8, 2006 - 8:08 am:        can anyone let me know when the last time maplewood was reassessed? - and how often do towns tend to get reassessed? thanks!   Nohero Supporter Username: Nohero Post Number: 5146 Registered: 10-1999 Posted on Wednesday, March 8, 2006 - 8:39 am:        In theory (or, even by law) reassessments are supposed to take place every 10 years. From what we've seen around here, that time period is usually longer (sometimes a lot longer). Also in theory, the Township has the ability to review and adjust assessments, if changes in home prices skew the relative values around town. The last reassessment was in 2000. There was some brief discussion of that on this board back then.   Tom Reingold Supporter Username: Noglider Post Number: 12790 Registered: 1-2003 Posted on Wednesday, March 8, 2006 - 12:37 pm:        And that brief discussion is still going on!   Bob K Supporter Username: Bobk Post Number: 10900 Registered: 5-2001 Posted on Wednesday, March 8, 2006 - 4:55 pm:        The other 'test' for a reval is the Coefficient of Deviation which it a method of statistically measuring how far sale prices deviate from assessments and is a measure of fairness. Just five years after the last revaluation Maplewood for 2005 was at 14.44, very close to the 15 figure where a reval should also be done according to the State. I suspect we will be going through this experience again before 2010 if the Essex County Tax Board continues to be as tough as they have been the last couple of years.   John Nance Citizen Username: Johnnance Post Number: 22 Registered: 3-2006 Posted on Thursday, March 9, 2006 - 6:49 pm:        Co-efficient of deviation? Are they using generalised linear models to reckon the tax bases? I am impressed.   Nohero Supporter Username: Nohero Post Number: 5157 Registered: 10-1999 Posted on Thursday, March 9, 2006 - 8:05 pm:        See, just another reason you should move here, Mr. Nance!   Trent_Daddy Citizen Username: Tcedwards Post Number: 181 Registered: 6-2001 Posted on Thursday, March 9, 2006 - 9:05 pm:        Sure hope they don't attempt that again. Between the state threating a new tax increase and the local government we are trapped (sort of).