PASCACK VALLEY—Hillsdale, Montvale, and River Vale are among 10 Bergen County towns set to be recommended for property revaluations in 2026, according to a notice from the county’s Board of Taxation. The recommendation will be formally presented at the Bergen County Commissioners meeting on Dec. 4, in Hackensack.
If approved, the revaluations will take effect in the 2027 tax year, ensuring assessed property values reflect current market conditions, county officials said.
Hillsdale Mayor Michael Sheinfield called the process “painful” but necessary. “There will be winners and there will be losers,” Sheinfield told Pascack Press. “It’s going to be a painful process. We’re going to be laser-focused on this because of what’s coming down the road with the schools’ bond referendum [tax] impacts. We want to avoid the double-whammy.”
Why these towns?
The county’s tax administrator, Robert F. Layton, sent a Nov. 12 notice to local officials listing the towns being considered for “revaluation orders.” A revaluation is generally required when a town’s assessed property values fall below 85% of their market value, as measured by the assessment-to-sales ratio.
In the Pascack Valley, Hillsdale’s ratio is 69.26%, Montvale’s is 78.13%, and River Vale’s is 79.89%. Other towns under consideration include Fort Lee (67.44%), Hackensack (80.69%), Midland Park (64.78%), Ridgewood (67.39%), Rutherford (72.40%), Wood-Ridge (69.10%), and Wyckoff (84.39%).
“Generally, the commissioners approve recommendations when towns meet the revaluation criteria,” Layton said.
Cost and process
Revaluations typically cost towns approximately $230,000 or more, with costs varying based on the scope of work required. Towns may opt for rolling reassessments, which cost about $60,000 annually, as a way to maintain alignment with market values over time.
River Vale’s chief financial officer and administrator, Gennaro Rotella, said if the revaluation is approved, work would likely begin in 2026 and conclude in time for the 2027 tax year.
Rotella emphasized that while revaluations bring assessed values in line with market conditions, they do not necessarily result in higher taxes. “Property tax rates adjust accordingly,” he said. “Often, assessed values increase, but tax rates decrease, leading to minimal or no change in tax bills overall.”
He also encouraged residents to cooperate with appraisal company inspectors during the revaluation process. “Accurate data leads to more accurate assessments,” Rotella noted.
Historical context
Hillsdale’s last revaluation occurred in 2013. Mayor Sheinfield declined further comment on the upcoming recommendation, though he acknowledged the importance of transparency and vigilance in managing the process.
In an earlier discussion with Washington Township officials, tax assessor Sarah Holbig clarified that the purpose of revaluations is not to increase or decrease taxes but rather to align property assessments with true market value.
Our efforts to reach Montvale Mayor Michel Ghassali for comment were unsuccessful at the time of publication.