It is about time to stop the property tax creeps
If you improve your property the
following is typical. In other words if you maintain you home such as new
siding, new windows, a patio, you will pay more to the township. This is a
negative effect to good neighbors. Taxation should be based on the size of the
land and the basic square footage of the house or building. Municipalities would
not need to hire consultants to examine the home and charge you more money
because you improved the bath room or kitchen or attic.
Q. When
I obtain a Building Permit to improve my property (examples: siding, kitchen or
bathroom renovation, construction of a family room or bedroom dormer) when and
how will my property assessment be increased?
A. After a representative
from the assessor's office inspects the property (in its entirety), the
property is assessed at the current market value (as of October 1). The added
assessment is the amount of the difference between the old assessment and the
value of the entire property at the end of the project, not the amenity itself
or cost of the job. The property must be valued from scratch. The result is
adjusted to the same valuation date as the date of the last town wide revaluation
so that everyone has the same base year for assessment. The assessment is
calculated as of October 1 and prorated for the months that it was complete.
The completion date is determined by the Assessor according to "readiness
for intended use" and not by the date of the final inspection. In cases
where it was completed during the prior year, an omitted added assessment bill
will also be received. All bills are sent out by the Tax Collector by October
25 and due payable, in full, on the following November 1. The dates for added
and omitted added assessments, as well as the time frame in which the bills are
mailed out and due payable, are mandated by the State of New Jersey.
Jerry Keer
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