Most Frequently Asked Questions...........

Questions and Concerns

All property owners are encouraged to contact the Tinton Falls Tax Assessors Office regarding any questions or concerns they may have. The Tax Assessor is Scott Imbriaco and the Assessing Clerk is Scott Kineavy. Our phone number is 732-542-3400 ext: 222; office hours are Monday through Friday 8:30 am to 4:30 pm.

 

 

What is a Revaluation?

A Revaluation is a program undertaken by a Municipality to appraise ALL real property within the taxing district according to its full and fair value. The purpose is to fairly distribute the necessary tax burden among all property owners based on true value. This is the law. (Back to Top)

 

What is meant by full and fair value?

Full and fair value is the price at which a property would sell at a fair and bona find sale by a private contract on October 1 of the pre tax year. The sale must be between a willing buyer and a willing seller, for example, the buyer is not obligated to buy and the seller is not obligated to sell. (Back to Top)

 

Do the inspectors appraise my property?

Inspectors do not appraise property. They simply gather information. Property appraisals are performed by certified appraisers licensed under the State of New Jersey. (Back to Top)

 

When will the inspections take place?

Inspectors will visit properties on weekdays and weekends during the day and early evening. The first attempt to inspect will be unannounced. Inspections take only a few minutes. The inspectors’ goal is to get the information they need with the least intrusion on residents and property owners.

Inspection of properties
(PROPERTY INSPECTIONS ARE A REQUIRED PART OF THE REVALUATION PROCESS )

Inspections of properties will be conducted by qualified and trained field inspectors from Realty Appraisal Company, which has been contracted to perform the Borough’s revaluation. The firm is under the supervision and review of the local assessor’s office. The purpose of the inspection, both interior and exterior, is to record information in order to develop descriptions and records of all properties, which will affect its value. Inspectors will measure and determine building dimensions for total living area and room count. Other features that determine the value of your property include physical condition of structure, remodeled and/or condition of kitchens, bathrooms, finished basements, decks, patios, pools, etc. Additionally, photos will be taken of the exterior of all homes and buildings at a separate time. Commercial, industrial and residential, as well as exempt properties will be inspected and appraised.

Safety and security of inspections

All inspectors will be required to submit to a police background check and approval before beginning inspections. During inspections, inspectors will be required to have two forms of identification; 1) a letter of introduction, with their photo, signed by the Tinton Falls Assessor confirming they are employed by the revaluation firm. 2) individual personalized photo identification badges from Realty Appraisal Company. Do not let anyone into your home unless they have the above. Inspectors will only enter a house if adults are present. Inspectors will not enter houses where only children are home. (Back to Top)

 

Does a revaluation make my property taxes go up?

Not necessarily. Property revaluations do not automatically result in higher property taxes. This is because while property values go up, the tax rate used to calculate your tax bill will go down.

For example: If your assessment is presently $200,000 and the tax rate is 2%; your tax bill will be $4000($200,000 x 2% = $4000). If your assessment doubled to $400,000, with no increase in budgetary demands, the tax rate will drop to 1%; resulting in your tax bill remaining the same at $4000($400,000 x 1% = $4000). (Back to Top)

 

How does a revaluation impact distribution of taxes and when? Are there rules of thumb as to which properties are likely to have higher taxes, which lower and which tend to remain the same?

A district-wide revaluation is undertaken when there is a lack of uniformity in the distribution of the local tax burden. The goal of the revaluation is to ensure that all properties pay only their fair share of the tax burden no more and no less. Inasmuch as the new assessment figures are effective January 1st of the year of implementation, evidence of the redistribution of the tax burden will not be seen until the third-quarter billing.

It is often said that as a “general rule of thumb” that the revaluation process will result in 1/3 of the properties experiencing an increase in tax, 1/3 a decrease and 1/3 will remain approximately the same. This “general rule” is often broken in the case of municipalities that have “unique enclaves” and those that have experienced substantial new development since the last revaluation. (Back to Top)

 

Is the goal of the revaluation to increase collectible taxes for the county and townships?

Revaluations are said to be “revenue neutral”. The correction of an inequitable distribution of the tax burden does not mean more taxes are going to be collected, it simply means that there will be a shift as to who is paying how much tax. The process focuses on the distribution of the burden, not the amount being collected. Factually, some people will pay more taxes while others may pay less but, there will not be a total tax increase unless the budgets submitted are larger than they were previously. The revaluation is an adjustment to assessments, not the total amount to be raised by taxation. (Back to Top)

 

What is the new tax rate?

The town’s “Tax Rate” is developed by dividing the “amount to be raised by taxation” or “Levy” by the “total assessed value” of the town. Levy / Total Assessment = Tax Rate (Back to Top)

 

How come someone in the neighborhood just bought a home for ex. $50,000 more than the new assessment? We are being told our reassessment value should be our selling price?

In the year of a revaluation the new assessment should equal the market value of a property. Accordingly, the new assessment should be “very close” to a recent sales price provided that the sales price represents an “arms-length transaction.” However, there are many reasons why there may be exceptions to this general rule. One may be that the sale price included something other than the real estate therefore; the price was not really representative of the value of just the real estate. Most often such discrepancies are due to the fact that the revaluation process utilizes “mass appraisal techniques” that require a “blending” of data to establish values for an entire neighborhood. (Back to Top)

 

Does one house assess higher if it is in better condition or more attractively maintained?

The key terms in this question are “condition” and “maintained.” A structures “level of depreciation” does affect the market value of that structure. Where the furniture and drapery does not affect value however, an updated kitchen and bath does. (Back to Top)

 

When we went to speak to the assessment company they would not allow us to review our paperwork. We are not sure what details they have on our property or home; when can we review our paperwork to make sure that the information is accurate?

The terms of the municipality’s contract with the revaluation firm loosely states that they cannot deliver the data collected to anyone but the municipality and the municipality will not take “possession of the data until after the informal hearing process has been concluded. Therefore, the revaluation firm cannot give you your data as a matter of contractual agreement and the town cannot deliver it to you because they have not yet received it. Once the book is submitted to the County Board (on or about January 10th) the information becomes a “public record” at the assessor’s office and the County Tax Board. (Back to Top)

 

Describe the process for keeping assessments up-to-date.

Inasmuch as there is a Statutory obligation for the local assessor to submit a Tax List which upholds the uniformity standard, which implies the ability to adjust values upon submission, Chapter 101, Public Laws of 2001 (aka Compliance Plan) greatly restricts the assessors ability to adjust individual assessments after a revaluation. Therefore, aside from the added assessment process which provides for the creation of new value, there is limited “maintenance” which must come by means of the implementation of a compliance plan. Such plans generally require the use of a fully populated computerized assessment system and have the approval of the State and County. (Back to Top)

 

Valuation Notices

Values are established once all properties in the Borough are inspected and a sales study has been completed. All property owners will receive a written notice of the estimated value of their property. You will be given the opportunity to meet informally with representatives of Realty Appraisal Company to discuss any questions regarding the assessment that relates to your property. Please be prepared to support any disagreement you may have regarding the assessment of your property. (Back to Top)