Print Page   |   Sign In   |   Register
Search
News & Press: Recent News

Revaluations ordered in East Newark, Harrison; which town is next?

Tuesday, May 10, 2016   (0 Comments)
Share |

NJ.com 05/10/16

East Newark and Harrison are the latest Hudson County municipalities ordered to conduct property revaluations. The orders, issued by the county taxation board on May 2, came less than a week after New Jersey tax officials said they would investigate whether the two towns should conduct revals. East Newark's reval must be done by November 2017, Harrison's by November 2018. The news means five of the county's 12 municipalities have been ordered to conduct revals in the past year. The state on April 4 ordered Jersey City to conduct one, and three days later the county taxation board ordered Bayonne to do the same. A judge last year ordered Weehawken to conduct a reval. The five orders affect at least half of every property in Hudson County, county officials say.

East Newark last revalued its properties in 1986 and Harrison in 1988, putting them near the top of the list of New Jersey towns that have gone the longest without conducting revals. The state says county taxation boards must order a reval in any municipality where the ratio of assessed-to-true value — also known as the "director's ratio" — dips below 85 percent. In East Newark, a borough of 2,500 sandwiched between Harrison and Kearny, the ratio is 33.69 percent. In Harrison, which in recent years has seen a building boom near its PATH station, the ratio is 40.39 percent. Residents of East Newark should expect to see a new tax rate in 2018. In Harrison, the new rate would be effective in 2019.

Dozens of New Jersey municipalities have gone decades without conducting revals, delays that could lead to some residents paying more of a share of the local tax burden than others. State tax officials decided to intercede after a group of Weehawken residents sued to force that Hudson County township to conduct its first revaluation. Weehawken lost the case last year. After East Newark and Harrison, two other Hudson towns have gone more than 25 years since revaluating properties: Kearny, where the last reval was in 1985, and Secaucus, in 1989. The director's ratio in Kearny last year was 28.7 percent and in Secaucus the figure was 58.3 percent. County spokesman James Kennelly said the county tax board would likely not review whether Kearny and Secaucus should conduct revals until at least October, when new director's ratios figures are submitted.

 


Sign In
Sign In securely
Latest News