Steve Kozik, Lambertville
Recently, the Raritan Township committee authorized a reassessment of all its properties, residential and commercial. This initiative was driven by a surge in property tax appeals last year mostly from residential property owners.
In looking at this, the township realized that assessments made at the height of the housing bubble could no longer be used as a basis for the establishment of property taxes. The numbers used to calculate property taxes are simply unrealistic in today’s market and as such create an unfair burden on the taxpayer.
The township expects new assessments to be in the mail in February and provide some relief on the 2009 tax bills. In my opinion, they should be commended for their insight and subsequent action.
In my town over-assessment adds insult to injury as we continue to pay on home values that no longer exist. I, for one, will file a tax appeal this year. In my estimation, I pay about $2,500 a year in over assessment. In my community of 129 homes I estimate that we share about $250,000 in over assessment.
I am hopeful that the steps taken in Raritan Township will serve as an example to our towns to correct this distressing situation.

