By David Kilby, Staff Writer
MONROE — The Township Council passed an ordinance Monday appropriating $1,975,000 to fund the township’s tax revaluation project.
The state is requiring Monroe to do a revaluation because Monroe properties are assessed at only about 53 percent of their actual value.
Wayne Hamilton, township business administrator, explained the first steps of the tax revaluation project the township is undergoing.
”The first step is to put funds in place,” he said. “The next step is to put out a publicly advertised request for a proposal,” adding this next step will be complete within the next 30 days.
The ordinance passed at Monday’s meeting simply put the necessary funding in place, Mr. Hamilton said.
The township will pay about $400,000 per year over the next five years for the tax revaluation.
In December, the state granted the township a one-year extension on its tax revaluation since it noticed — as the township insisted — it would be impossible to reevaluate all of the township’s 21,338 properties by the end of 2011, the original date set for the completion of the revaluation project.
Due to the extension, the township now has until January 2013.
A letter will advise homeowners when the revaluation firm — not yet chosen — will come out to evaluate their property.
