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Council Approves $175K for Reassessment Measures

"Hybrid reassessment" required after home values plummet

Toms River will spend $175,000 to reassess property values around town, after a large number of successful tax appeals following

Called a "hybrid reassessment," the measure will not be the extensive process the township underwent in 2009, when it was a complete reassessment of property values.

"They're not going out and doing the exams in the homes like they did previous," said Town Council President Maurice Hill. "It's going to be done on a computer database."

The $175,000 will pay an outside contractor $100,000 to administer the reassessments, with $75,000 spent for commercial properties.

It's called a hybrid reassessment as it does not have to meet the strict state standards for a complete reassessment, considering the last time the township had one was recent enough to relax state standards, Township Administrator Paul Shives said.

"The state is not requiring us to do a complete reassessment...The state is allowing for a relaxed inspection procedure," Shives said. "It's not all in-house but a outside contractor is also helping."

Shives said the reassessment will affect the tax bills of residential properties as well as businesses.

"There will be a lot of inspections on commercial structures," Shives said.

Shives said previously the large number of tax appeals as a result of lower property values is greatly affecting Toms River's budget.

For example, appeals decreased Toms River's total assessed value by $780 million in the past 2 years. Shives explained previously the impact of this change is that 1.4 cents of the 2012 tax increase is due to the change in property assessments from 2011 to 2012.

Previously, the council passed a resolution in support of the township tax collector to take a look at the entire township property values, and to make adjustments if necessary to bring the assessments in line with the recent sales data.

Shives said the township had to reimburse taxpayers more than $2.3 million in that time.

Shives said whole neighborhoods will be reassessed because of the large number of successful appeals. In May, several hundred tax appeals were outstanding, which will further result in impact to the budget's tax revenue, Shives said.

PJ Ortley July 13, 2012 at 02:48 AM
Lowering assessments for everyone only requires that the tax rate go up, it does not yield any savings to taxpayers. The amount of money that needs to be collected can only go down by reducing spending, not by reducing assessments. Re-Assessment only redistributes the tax burden differently. In fact, if commercial assessments go down, which is likely given all the empty buildings in Tom's River, then the residential tax burden will increase.
Martin July 13, 2012 at 11:38 AM
You're right about higher taxes, no matter what the assessments are, until the politicians get spending under control. Voters can do something about that in November. However, empty bldgs. pay the same property taxes as occupied bldgs.
1stcav July 13, 2012 at 01:18 PM
Martin , true , they don't care if your making money or not, it doesn't effect the TAX rate , that's the business problem , not the tax man's.All these HOME"S being foreclosed on , they don't care if you were up to date for the last 20 yrs, it's due NOW, if you can't pay...by house. The bank now has to pay and maintain it's investment, bottom line the town gets it's TAXES !!!!! YOU loose !
RPtoTR July 13, 2012 at 08:31 PM
If they were honest about it they would stop wasting the money and our time and simply raise the tax rate, every thing else is just a sham. At least the burglars running so rampant in town lately are honest about what they are doing.
steven abbott August 26, 2012 at 02:25 PM
Agree but at least it will be distributed more evenly. So those that haven't appealed yet will see a decrease while those that already appealed and won will see an increase because values will all drop and the tax rate will go up......

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