Solomon Addresses Downtown Reval

On Thursday, February 1st, Ward E Councilman James Solomon addressed a full-house of concerned residents from Downtown Jersey City.  His reval presentation explained the revaluation process and outlined several specific steps residents can take to appeal their valuation if they feel the appraisal is not accurate.  Here are the key steps to appealing your reval:

  1. Obtain Revaluation Letter from Appraisal Systems – Once you receive your letter in the mail it will include your 2018 Proposed Assessed Value and your Estimated Annual Taxes for 2018 (Please note that your new annual tax rate will be retroactive to January 1, 2018).
  2. Request a Copy of your Property Record Card – You need to request the card via email at jerseycity@asinj.com. It will be provided to you within 72 hours for your review.  You need to ensure that the information they based your assessment on is correct.
  3. Schedule a Meeting with Appraisal Systems – You may meet with a representative of Appraisal Systems to discuss your appraisal and/or present information that may affect the appraisal (for example, a comparative market analysis of recent sales for similar homes, etc.). You have only 10 days from receipt of your letter to schedule your meeting.  You can schedule your meeting by going to asinj.com/scheduling.htm.  Login and password information will be provided in your letter.

According to Warren Curtin, owner of Warren G Curtin Realty, Inc., “There is still a lot of confusion and concern regarding the reval, especially for those whose tax bill was much higher than they had anticipated. Many are wondering if they will be able to absorb it.   Most will be able to adjust but others may not be able to.”

Residents listen to James Solomon discussing tax reval in downtown Jersey City

Many in the Hamilton Park Neighborhood received their reval letters the day after the presentation.  As anticipated the vast majority in the downtown area are seeing increases that range from 55% to 75% on average; however, a home just a few blocks away from Hamilton Park increased from $13,000/year to over $33,000/year and there are many other that more than doubled.

In order to help folks who may want to meet with Appraisal Systems and present additional information, I am offering to run Comparative Market Analysis (CMA) reports, which may be helpful if your appraised value is higher than comparable sales.  If you are interested in receiving a free CMA report on your home, please feel free to contact me at tom.wgcrealty@gmail.com.

This article was prepared by Thomas Gibbons, a licensed Realtor® at Warren G Curtin Realty.

Disclaimer: This article is not intended to provide any conclusions regarding the value of a specific property or its projected 2018 taxes.   Homeowners should consult with their professional tax advisors regarding how this revaluation may impact their 2018 taxes and an appraiser regarding appraised value.