Township hires revaluation company to canvass township
West Milford — Appraisal Systems Inc., will soon begin the process of revaluation throughout the township of West Milford.
The company, with offices in Whippany, Glen Rock, Newark and Cherry Hill, will be paid just shy of $800,000 for the service, according to township Administrator Kevin Boyle.
Why a revaluation?
The township hasn’t had a full revaluation since 1988, according to Brian Townsend, the tax assessor. And while many people fear a revaluation, what it actually does is level the playing field. With the downturn in the economy and the falling values of properties, many residents have appealed their assessments. Those who have won paid less than the municipality expected. The other taxpayers had to cover the shortfall. With a revaluation, all homes will be brought up to 100 percent assessment, meaning their assessed value will be equal to market value. Currently, assessed value is equal to about 40 percent of market value. All properties in the township will be part of this revaluation including all commercial and township-owned properties.
Appeals are hard to sustain, Boyle indicated. It is expensive for the town not only because of the loss of revenue if an appeal is successful but also for the cost of having its attorney and tax assessor available for all of the hearings.
What homeowners can expect
Residents should be getting an introductory letter from Appraisal Systems Inc., explaining the process from start to finish. Inspectors will go to every house in the township and do both an exterior and interior inspection. Homeowners are strongly encouraged to allow entry to the inspector, otherwise they will estimate what’s inside.
The entire process is expected to be completed by October, Boyle said, with the company beginning its canvassing in April. The mayor and council plan to use the new valuations beginning in January, 2012.
Education is key
Boyle said there will be much community outreach with meetings being held throughout the township.
“It’s critical that the public knows the process,” he said.
He wants to have neighborhood meetings in every part of the township: Newfoundland, Upper Greenwood Lake, Hewitt, West Milford.
Boyle also said Appraisal Systems Inc., has an interactive Web site so that residents can follow the progress of the revaluation, make and change appointments, and much more. The company’s Web site is www.asinj.com. For more information from Boyle, call 973-728-2710.