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228 South Mountain Avenue, Montclair, N.J. Stanton Realtors

Property Assessments Are Out, Is Yours Fair?

What are the ramifications of the new assessment on your property tax bill and the potential marketability of your home?

Property assessments are out and you should have received, or will shortly, the letter that gives you a new assessed value and an estimate of the tax effects.

The rule of thumb is that if your assessment increased more than 22% (the town-wide amount to “equalize” assessments to market value), your taxes will increase. If your assessment increased less than 22%, your taxes will decrease.

Which way did yours go?

As more results come out, my team and I will be looking for patterns across neighborhoods and property types (single family, multi, commercial).

Does your assessment seem fair?

What are the ramifications for the marketability of your home? Find out more information on our News page, and contact me for my opinion on your assessment and your options.

Best, Rich