Upcoming 2024 property revaluation?
On a related topic, councilman Tom Sears said at a prior meeting the tax assessor told council it was likely that a full tax revaluation was due soon, estimated to cost $230,000 to $260,000.
DeSena said he and Ullman needed more information provided to the previous council “to make informed decisions” and that the tax assessor would be at the Feb. 5 meeting.
Administrator Mark DiCarlo said the township was on Bergen County’s list “to be mandated” to do a tax assessment, noting that could occur at any time.
He said it was “in the township’s best interest to do it ourselves” as the township could do a reassessment on a revolving basis.
However, he said if the county mandated the revaluation, it would require the entire township to be revaluated in one year, and revise tax maps, which would cost much more. He said the township doing it on its own without being mandated could save “hundreds of thousands of dollars.”