While many Nutley residents received correspondence containing preliminary figures from the township-wide property revaluation this week, authorities are urging residents not to panic from what might appear to be sticker shock.
Letters were sent by Appraisal Systems, Inc., the firm contracted by the township to determine the values of all Nutley properties as of Oct. 1, 2022, as mandated by the state.
“At first glance, there is certainly going to be sticker shock over the assessments,” Commissioner Thomas J. Evans, director of the Department of Revenue and Finance, said. “While this is understandable, it’s not the reality.”
A common mistake among residents is applying the 2022 tax rate to new assessment.
“To estimate their new property tax, residents can use the tentative tax rate of 2.506%, which is much lower than the 2022 tax rate of 3.864%,”Evans said. “Simply divide your new assessment by 100, then multiply it times 2.506. That equation will give you your preliminary new property tax before any budgetary adjustments for 2023.”
Evans stresses that these numbers are preliminary and they may change once the new township budgetary process is completed. He also suggests some tips for concerned homeowners:
- Make sure to get a copy of property record cards and confirm it is correct. If you don’t have one, you may request it by sending an email to email@example.com.
- If you have questions about your new value, meetings may be arranged by calling (201) 493-8530 Monday-Friday between 9:30 a.m. and 4 p.m., within 10 days of receipt of your letter.
- Additionally, you may also contact ASI at www.asinj.com/scheduling.htm. You will need to use the login information included with your letter.
- If you are part of the NJ State Freeze Program, be sure to file on time to protect your base year. An increase in tax from your new assessment will be refunded by the state as long as you file on time.
“We are here to help residents understand the process. I encourage those with questions to contact Edmund Brown, the township’s tax assessor, at firstname.lastname@example.org,” Evans said.
For more information about the revaluation process, visit www.asinj.com.
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