Jersey City is going through it’s first revaluation of property taxes for Homeowners since 1988 . What does this mean for you ? Check out website below for more information on who, what, why & when.
7 Things you need to know about the Tax Reval
1.This is the first time the property values have been reassessed in Jersey City since 1988
2.These are only proposed assessments at this point . They will be performed by Appraisal Systems and all homeowners should have their reassessment by April
3.Homeowners will have the ability to first informally dispute the assessment with Appraisal Systems and then eventually formally with Hudson County Board of Taxes
4.Downtown will be the most effected as far as a tax raise but some other areas of Jersey City may actually see a cut
5.Mayor Fulop said in February that there will be a second reval In 2019 to address those that were affected with this years assessment
6.Hoboken went through a similar reval in 2011 and 2012 but did not see any significant increases mostly because there are less tax abatements there
7.Currently according to statistics released downtown properties values are only about 23% of the value they are being assessed at .
Another great article about the Reval:
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