More than 30 New Jersey municipalities have not had property revaluation in more than 25 years, leaving home owners in a position of paying wildly higher or lower taxes than they should.
Jersey City, Elizabeth and Dunellen, which have defied the state Constitution’s mandate for fair and uniform assessments, have until November 2017 to complete revaluations under new orders from the state.
The taxable value of properties in Jersey City, the state’s second-largest city which conducted its last revaluation 27 years ago, was about $6 billion last year or just 27.6 percent of its estimated $21.6 billion market value.
Jersey City Mayor Steve Fulop came into office in 2013 with a revaluation scheduled to remedy unjust tax levies there but he cancelled the project, leaving strapped homeowners
Elizabeth has failed to update its assessments in 39 years and Dunellen conducted its last revaluation 33 years ago.
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