Montclair Reassessment Causes Rise In Tax Assessments For Some

 

From The Montclair Patch:

With the decline the housing market, Montclair property owners have filed 3,724 tax appeals since 2007. The appeals reduced the assessed value only on the properties whose owners successfully appealed. With only a portion of properties being adjusted to market value, an unfair shift in the tax burden was created that could only be adjusted through a township-wide reassessment.

Since reassessments adjust properties to market value, the properties whose assessments were closer to market value prior to the reassessment will see an increase in their tax burden….

More at Tax Bills Spark Concern – Patch.com

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