Appraisal Letters are Arriving/Have Arrived
joan_crystal said:
More significant, is the fact that real property tax increases are based on percentage of change in real property value. If everyone's real property value increases by 100.000 dollars, those with the lowest base value are going to see the highest real property tax increase even though they may still be paying less in real property taxes than those with the highest base value.
Interesting. That would seem to account for why my taxes increased more than some of the most expensive homes on my street. The 2023 assessment ranked my house 3rd lowest on the block and the 2024 assessment, 7th lowest.
I think our assessed value may be to high.
2024 val. Is 67% higher than 2023.
2024 tax is 6% higher.
Do these increases seem unusually high? How does this compare to your experience? What happened at your PPA interview?
How to proceed?
Apollo_T said:
I think our assessed value may be to high.
2024 val. Is 67% higher than 2023.
2024 tax is 6% higher.
Do these increases seem unusually high? How does this compare to your experience? What happened at your PPA interview?
How to proceed?
I don't think they are unusually high. It's been many years since the last revaluation and home values have increased substantially.
However, the important part is how much your home appreciated in comparison to all the other homes in town.
Apollo_T said:
I think our assessed value may be to high.
2024 val. Is 67% higher than 2023.
2024 tax is 6% higher.
Do these increases seem unusually high? How does this compare to your experience? What happened at your PPA interview?
How to proceed?
I feel that the old valuation was way under the true value. I'll try to add the % increase to this page:
Apollo_T said:
I think our assessed value may be to high.
2024 val. Is 67% higher than 2023.
2024 tax is 6% higher.
Do these increases seem unusually high? How does this compare to your experience? What happened at your PPA interview?
How to proceed?
Make an appointment to speak with the PPA representative. They will not put how they calculated your real property value in writing but they will tell you in person, over the phone, or in a video conference. The tax map which shows the boundaries of the various assessment areas is available online somewhere. I have seen it on Facebook and on the town website. Using the tax map, you can identify the comps selected for your assessment area. You can then use Jamie's spreadsheet to look at values placed on properties in your area. That will show you how the values in your area have changed compared to other areas in town. If you have your current record card, you can bring it with you to your appointment so you can identify any changes in basics such as square footage, HVAC, age of bathrooms, livable space in basements and attics, etc.
jamie said:
I feel that the old valuation was way under the true value. I'll try to add the % increase to this page:
It would be helpful if the assessment area (shown on the tax map) could appear as a field on the database. That would make it easier to identify comps and the properties in the same assessment area.
THANKS SO MUCH YOUR TIME AND EFFORT!!!
TREMENDOUSLY HELPFUL.
Are PPA reps authorized to make any changes to the bases for their calculations? Will there be any changes made based on our interview? during? after?
joan_crystal said:
It would be helpful if the assessment area (shown on the tax map) could appear as a field on the database. That would make it easier to identify comps and the properties in the same assessment area.
I can only use what was included in the supplied database. If there’s another file out there that contains this - let me know. Or do you mean add a search field for block number?
jamie said:
I can only use what was included in the supplied database. If there’s another file out there that contains this - let me know. Or do you mean add a search field for block number?
The tax map contains a distinct number for each assessment area. PPA did not identify assessment areas in the database they provided. So, adding an assessment area field would involve more than importing an existing table. Search field for block number would be helpful since block numbers are identified within the assessment area. Identifying comps would then be a multi step process but would be possible.
Apollo_T said:
THANKS SO MUCH YOUR TIME AND EFFORT!!!
TREMENDOUSLY HELPFUL.
Are PPA reps authorized to make any changes to the bases for their calculations? Will there be any changes made based on our interview? during? after?
The purpose of meeting with the PPA representative is to determine that your valuation is accurate. During the meeting, the PPA representative will be able to tell you the basis for their valuation of your property. This will enable you to determine if they made any errors. If you can provide information to show that an error was made, they will recalculate your valuation. Warning: That recalculation can go up or down depending on the error(s) identified. This is a review not an appeal. Appeals are made after the valuations are certified and those go to the State, not PPA.
jamie said:
I feel that the old valuation was way under the true value. I'll try to add the % increase to this page:
Thank you for this. It's always good to be able to point to a common source of actual information, in discussing this most incendiary topic in Maplewood.
joan_crystal said:
The tax map contains a distinct number for each assessment area. PPA did not identify assessment areas in the database they provided. So, adding an assessment area field would involve more than importing an existing table. Search field for block number would be helpful since block numbers are identified within the assessment area. Identifying comps would then be a multi step process but would be possible.
Can you link to the tax map? Like I said - unless I have an actual database - I would have to manually edit over 7,000 entries.
jamie said:
Can you link to the tax map? Like I said - unless I have an actual database - I would have to manually edit over 7,000 entries.
Try this: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.maplewoodnj.gov/home/showpublisheddocument/1153/638258298081259497
Hilton may be a victim of its own success. More than any other part of town, Hilton has truly developed a strong sense of community in addition to having developed a reputation for being the emerging art and music center of town. This attracts knowledgeable homebuyers and raises home values. Hilton also shares characteristics with other areas of town that seem to see the higher increases in real property taxes due to revaluation.
I have been following revaluation results for the last 20 years. It is almost always the neighborhoods with the lower average sale price that see the comparatively highest increase in real property taxes. These areas may be most attractive to first time home buyers and others moving to the area because they are the most affordable. The relative affordability drives interest which raises prices. More significant, is the fact that real property tax increases are based on percentage of change in real property value. If everyone's real property value increases by 100.000 dollars, those with the lowest base value are going to see the highest real property tax increase even though they may still be paying less in real property taxes than those with the highest base value.