Why Not Everyone Embraces The Idea Of A Reval

 

In many towns throughout New Jersey, property assessment values have failed to be adjusted relative to their market (or “True”) values.  In towns such as Jersey City — where assessments are as much as thirty-years old and the market values of properties have increased steadily — individual property tax bills reflect widespread inequities.

Because of this, many poorer residents end up paying excessive property taxes while those living in more affluent neighborhoods often pay less.

The purpose of a revaluation (theoretically, at least) is to ensure a fair and equitable distribution of the tax levy such as that all property owners are paying their fair share of the tax burden — and no more or less.

For example, the mayor of Jersey City, Steve Fulop, recently bought a house in Jersey City for $800,000.00. Since the property’s last assessment was in 1988, however, when its property taxes were only $7,700.00, his property tax bill remains the same.

Could this be one of reasons Fulop is so vehemently opposed to the town conducting a reval?

 

 

 

NJ.com

From NJ.com:

Jersey City mayor Steve Fulop says proponents of Jersey City reval hate him
NJ.com
As New Jersey officials decide whether to force Jersey City to perform a citywide tax revaluation, Mayor Steve Fulop alleges that those arguing in favor of the reval are doing so because they hate him. Fulop, appearing at a hall meeting Tuesday night
Most Jersey City residents at public hearing call for tax reval, some critical of Fulop
Hudson County View
all 10 news articles »

…via Jersey City mayor Steve Fulop says proponents of Jersey City reval hate him – NJ.com

 

email

Similar Articles

Assessing Your Assessemen... Fair to say,  if you are living in New Jersey, you are probably paying more property taxes than you should. The National Taxpayers Union, in fact, estimates
Reassessments May Be Head...   MyCentralJersey.com Are you fairly taxed? NJ targets towns on assessments MyCentralJersey.com That’s the primary reason why the number of tax appeals continues to drop in Somerset
NJ’s “Third o...   LINK Third of a mil funding for four local libraries drop. (northjersey.com, 5/3/2012)… More at Drop in Property Values and Increase in Tax Appeals Impact New
Entering the Combat Zone ...   MyCentralJersey.com Assessment appeals — the hearing MyCentralJersey.com We've concluded that it is worth pursuing the appeal and are going forward. We filed our notice with the
Legislation Would Advise ...   From: NJ Spotlight Letting Property Owners Know They Can Challenge Annual Tax Assessments NJ Spotlight The push to raise awareness for property tax appeals comes as
15 NJ Towns With Highest ... From Millburn Patch: The 15 NJ Towns With The Highest Property Taxes. Posted by Tom Troncone (Editor) , October 26, 2013 at 08:47 PM. Comment Recommend. Loading…
Tax Appeal Scams Prevalen...   From Patch: Scammers are offering information that is useless and free for a cost, the Atlantic County Board of Taxation announced on Tuesday morning, March 19.
Tax Bill Appeals Take Ris... By Jack Healy Published: July 4, 2009 Homeowners across the country are challenging their property tax bills in droves as the value of their homes drop, threatening
Tax Appeals In New Provid... From The Independent Press: Among the issues the New Providence Borough Council discussed at its June 25 meeting was a multi-million dollar reassessment of a property in
Lawrence Appeals Puts Pre... A total of 195 tax assessment appeals were filed this year by Lawrence Township property owners by the April 2 deadline, a record number for the township,
Bergen County Tax Appeals...   The record pace of appeals inundating tax boards in Bergen County and counties throughout New Jersey for the last few years has slowed significantly this year.