up with new values
could take a year
Jackson getting ready
to reassess properties
Process of coming
up with new values
could take a year
BY JOYCE BLAY
Staff Writer
There has not been a revaluation of property in Jackson in almost two decades. That will change beginning this year, according to Robert Ryley, who is the aide to the mayor and Township Committee.
"We’re required by law to make sure … the tax burden is equitably distributed fairly to all," Ryley said. "We don’t care whether we qualify [for a revaluation]; we’re going to do it. It’s been 16 years since we last had one."
Township Committeeman Josh Reilly agreed with Ryley’s assertion that a revaluation is necessary.
"We really should get the ball rolling on this," said Reilly. "It needs to happen. It will put everyone on an even keel [by] redistributing the tax burden fairly."
The process by which the state determines that a revaluation is needed is based on factors other than length of time since the last one was conducted.
On Oct. 1, the state Division of Taxation will release its annual Table of Equalized Valuation. When the director’s ratio falls below 85 percent and the general coefficient deviation rises above 15 percent, the Ocean County Board of Taxation will issue an order for revaluation. Both criteria are mathematical formulas that are used in conjunction with each other to determine whether a revaluation is deemed necessary.
Once that criteria no longer meets the norm, the county will order a revaluation for a municipality and the state will approve it.
Last year, information provided by the Ocean County Board of Taxation indicated that while Jackson’s sales ratio had dipped to 70.90 percent from the ideal of 85 percent, its General Coefficient was only 11.02. Despite a written request to the Board of Taxation asking for a revaluation, the township was turned down.
The committee is no longer taking "No" for an answer.
"The driving factor is the time; 16 years is a very long time and disparities are bound to occur," said Ryley. "The real estate market has appreciated greatly, so much so that the values we assessed no longer bear any resemblance to the current market."
Under state law, a municipality may order a revaluation if there has been none conducted in more than 10 years.
In order to begin the process, the committee hired Civil Solutions in 2002 to update Jackson’s tax maps. The new maps were submitted to the state Department of Taxation at the end of 2003.
As the next step, the committee passed a resolution at its May 24 meeting to solicit proposals for an appraisal firm to conduct the physical inspection of properties in town. Ryley said that only three or four of those firms were able to perform the task to the expectation of township officials.
"And they’re all busy, that’s the problem," he said. "(One of the firms) is doing Lakewood and they’re one of the larger companies that work in New Jersey."
Last year the county ordered Lakewood to conduct a revaluation of all of the properties in the community.
Ryley said once everything is in place, the property inspections in Jackson will take at least a year, and possibly more. Property owners will receive a notice informing them of their new proposed assessment. The notice will contain instructions telling the property owner what to do if he believes his property was not accurately assessed. The owner can challenge the assessment and it will be reinspected. Ryley said that any property owner who is still not satisfied could get a second opinion.
"The township wants to know that the numbers and values in the process are accurate," he said. "The last thing we want is a whole raft of tax appeals because someone didn’t do good work. This is about one word and the word is fairness."