MONROE: Revaluation bids lower than expected

By David Kilby, Staff Writer
   MONROE — The township is looking at two bids for its property revaluation project, and both are significantly lower than expected.
   The two firms the township is considering awarding a bid to are Realty Appraisal, of West New York, and Professional Property Appraisers, of Delran.
   Realty Appraisal would reevaluate the township’s properties for $1,195,265, and Professional Property Appraisers would do the job for $1,485,935.
   In January, the township appropriated $1,975,000 for the revaluation of Monroe’s 21,338 properties. It has budgeted to pay for the project over a five-year period.
   The township met with the appraisers Monday, and, “if all goes as planned,” a firm will be chosen by the Township Council at its meeting May 2, said Wayne Hamilton, Monroe Township business administrator.
   There also will be a public hearing on the amended budget May 2.
   In December, the state granted Monroe a one-year extension for its revaluation project since the township insisted there was no way it could complete the project by January 2012, which was the original deadline.
   Now the township has until January 2013 to complete the project.
   But Monroe also is waiting on the New Jersey Division of Taxation to approve the township’s maps and cannot finish the revaluation until then, Mr. Hamilton said.
   The state is court ordering a revaluation of Monroe’s properties because they are assessed at only about 53 percent of their actual value.
   A letter will advise homeowners when the revaluation firm will come out to assess their property.