Gail and JoAnna's Real Estate Thoughts

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Manalapan Township Tax Reassessment

To my Manalapan Township neighbors,

You'll soon be getting a letter with your new tax assessment.  

You need to understand that these were "across the board" reductions in value to stop the rush of homeowners filing for (and winning) tax appeals.

Our assessment values were originally calculated in 2007.  Since that time, as you know, home values have dropped considerably.  The purpose of this reassessment is to bring the assessed value of your home closer to true market value. It isn't an exact science and won't precisely indicate the current market value of your home.  It is just a measure by which the township will calculate your taxes.

I know some of you were probably excited to see the lower assessment values thinking your taxes would be lowered and others were probably disturbed to consider this number might be reflective of the true market value of your homes!  Again, the only reason this reassessment took place was to curb the number of tax appeals being filed by township residents.  Manalapan Tax Assessor

THE TAXES YOU ARE PAYING SHOULD NOT CHANGE DRAMATICALLY!! 

The Township is lowering the assessed value on your home and will be raising the tax rate... so you should be paying approximately the same amount (not counting any normal annual tax increase). Make sense? Drop me a note or give me a call if you would like further clarification.

Now... having said this... if you believe your new assessed value is NOT indicative of your home's market value, you could qualify for a tax appeal. To win an appeal, you need to provide 3 - 5 comparable CLOSED sales that defend your position. I've helped my clients on more than a few tax appeals and would be happy to help you evaluate your situation.

In the words of Benjamin Franklin... "In this world nothing is certain but death and taxes."

In the words of JoAnna Siminerio... "In this world nothing is certain but death and increasing taxes... oh, and gaining weight during the holidays!"

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JoAnna Siminerio, Weichert Realtors

JoAnna Siminerio
Weichert Realtors - Marlboro / Manalapan
732-598-6823 cell
732-536-4400 x116 (office)
JoAnna@JoTheRealtor.com
www.JoTheRealtor.com

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Comment balloon 7 commentsGail Szeluga & JoAnna Siminerio • January 06 2010 08:39PM
Manalapan Township Tax Reassessment
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