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Quote: In Monmouth County the revaluations are done every 8-10 years unless the county feels assessments are still accurate.
Monmouth County isn't Hudson County.
Its mandated and towns cannot refuse.
They can't refuse, but they can do their best (with a cooperative County Board of Taxation) to put it off as long as possible.
Towns know ahead of time and budget accordingly.
Yes, they know ahead of time -- but it's still a big line item, and when there's a budget crunch, it's something else for the taxpayer to complain about.
I've lived through one of these (peripherally -- I was in the Water Department at the time). It was a hassle for us, and for the people in the Assessor's Office, it was a nightmare (a taxpayer dropped dead from a heart attack in the Assessor's Office when he came in for an explanation of his new assessment). I'm glad I retired before I had to go through one again.
Thank you for adding plenty of great info to this discussion.
You're welcome.
I have some further questions:
Approximately what portion goes to (Hudson) county ?
From our 3rd/4th quarter tax bill:
Tax rate: Municipal tax rate 24.10
County tax rate 10.64
School tax rate 27.86
Open space tax: .28
Total municipal: 24.10
Total non-municipal: 38.78
And what are those funds used for (the county portion) ?
I worked for Bayonne, not Hudson County, but I imagine it went for the county courts system, board of elections, etc.
Is it much the same for other counties in NJ ?
I would think so, since they all operate under the same state constitution.
All I know is average taxes on an average house in Millburn are over $18,000. Who cares what the house is worth? A million dollar home in Millburn costs $650,000 in neighboring Livingston and even less in South Orange. The family in either of those three houses might have the exact same income, but the $650,000 house in Livingston has taxes of about $13,000 and the $500,000 house in SO has taxes of about $15,000. Why? Because it all comes down to how many kids are in the schools - or I should say teachers and administrators. 2/3 of the prop tax is for local schools. take teh school budget and divide it by the number of houses - assuming as in these three areas there's not a lot of commercial property - and there's your answer. The spending per pupil in each district is about the same, despite Millburn having the best reputation, Livingston next, and SO after that.
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