Residents Have Until May to Appeal Assessments

Total assessed property values in Hillsborough increased by $1.7 billion as a result of county-ordered property revaluations, though residents have until May 1 to appeal their assessment.

“The total amount of tax revenue paid by taxpayers will not increase due to the revaluation,” said Carl Suraci, deputy mayor and finance committee chairman.  “The revaluation will have no effect on anyone’s current tax bills. The tax bills for Feb. 1 and May 1 will not change due to the revaluation.”

“The new property values will be applied to the tax bills for the third quarter of this year, the Aug. 1 bills,” he added.  “Property owners are advised when receiving their new bills and their new values that they please should not be applying the current tax rate, the 2010 tax rate to determine what their new taxes will be in 2011.”

A new tax rate will be introduced by Aug. 1, pending acceptance of the town and school budget.  The taxes related to the town and school budgets depend on state aid numbers and the amount of revenue each receives as a result.  Those numbers are typically released in March, pending Gov. Chris Christie's announcement on the state budget.

The assessment appeal deadline is state-set for revaluations required by the county.

The school tax portion of the property tax bill will be available prior to the May 1 deadline, since the school budget must be approved for placement on the ballot by April 9.  Though the rate could change if the budget is voted down during the April 27 school board elections, the preliminary information would be available.

Still, the increase in value reduces the tax rate based on the rate of increase.

“The tax rate will be proportionately reduced based on the total value of the properties in the township,” Suraci said.

Annual assessment cards were mailed Feb. 4 and include information on the new assessment values and their total 2010 taxes.  The new assessment values include the value of the property as well as the estimated value of the home.

Appraisal Systems Inc., the company handling the revaluations, met with more than 1,000 residents during the monthlong meeting period for appraisal reviews, according to Suraci.  That period concluded Jan. 21, meaning those seeking appeals or assessment reconsiderations will need to meet with the township’s tax assessor, Deborah Blaney.

Editor's Note: This article has been changed to reflect that the appeal deadlines are state-set and that proposed tax rates for the school tax portion of property tax bills will be available prior to May 1.