Waldwick July 21, 2010 THE VILLADOM TIMES III • Page 3 A significant decrease in the ratio of sale prices to the assessed values of the properties in the 140-unit Tamaron senior citizens’ community in Waldwick led borough officials to contact the New Jersey Division of Taxation regarding a study of the area – and ultimately reduce the values in that section of town. However, senior citizens who do not live in Tamaron, are asking why their taxes will increase as a result. Several attended a mayor and council meeting last month to express their dismay that they have not received a similar tax break. “I never got a tax break. What qualifies them?” asked resident John Livesey, who does not live in Tamaron. “I never had a reduction in taxes, and I pay $9,000 a year,” said Josephine Bok. Councilwoman Anita Bozzo explained that, over time, the borough’s officials had realized that the prices of houses in Tamaron had declined sharply. Those homes assessed at $350,000, she said, were selling for 35 to 40 percent less. Rather than face costly appeals, the borough approached the state at the end of 2009 regarding the study, which confirmed what many had already suspected, she said. “We saw there was inequity, and we were approached by Tamaron residents about a class action (lawsuit),” Waldwick Borough Administrator Gary Kratz told Villadom TIMES. He added that the borough likely would have lost the class action Residents question drop in value of senior housing suit, and decided to review its options to restore equity to the entire community. “We had also looked at other areas in town, and they were not experiencing the same discrepancy,” Kratz said. The study confirmed the drop in values, which led to a total reduction of $17 million early in 2010. The decrease in value as approved by the state, he noted, is $17 million off the borough’s aggregate value of $1.6 billion. The pool and the clubhouse assessments were not affected, Kratz said. Bozzo gave her opinion that the Tamaron community is not attractive to people in their fifties. Additionally, she pointed out that, when a Tamaron property is part of an estate sale, the home is generally let go for a low price. She also noted that the decrease in value translates to a drop in home equity. The cost of the reduction, Bozzo noted, will be spread over everyone in the borough, as with any other appeal. That increase has been estimated at $20 per year. “Technically, for the last few years, (Tamaron residents) have been overpaying,” Kratz explained to Livesey. The resident urged borough officials to keep an eye on the situation, particularly if values in Tamaron begin to rise again. He said it was “ridiculous that the town had to make up the difference.” Kratz noted that the changes have “brought the borough into equilibrium.” Scouts establish library As a service project for the community, Cub Scouts from Pack 308 in Waldwick recently collected dozens of children’s books. Cub Scouts Anthony Burgos and Tommy Redfern, along with Den Leader Kristin Baxter, parent Rosa Burgos, and Daisy Girl Scout Lena Redfern delivered the books and set up the library at the Child Life/ Creative Arts Therapy Services Department at Hackensack University Medical Center. Pictured are Lena Redfern, Anthony Burgos, and Tommy Redfern. � ����������������� ���������� ���� ������� �������������� ����������������������� ������������� �������� ����������������������� ������������ ��������������������������� ���������� ���� �������� ��������� ������ ��������� ������������� ������ ������ ������ �������� ���� ���� ���� ������������ ��������������������� ������������������� ��������������� ����������������������������� ������������������������� � ������������� ��������� ��� �������� ������������������ ������������������ ������� �������������� ���������������������������� �������������������������������� ������������������� ������������ ���������� ��������������������������� ������������ ��������������� ������������������ �������� ��������������� � ����������� ����� ��������������������������������������������� �������� ���� ������ � �� � ���� ��������� ������ � ���� �������� ���� ��������������������� ���� ������� � ���������������� �������������������� �������������������� ���������������� ���������� ������� ������ �������� ����������� ���������� ����������������������������� ������������� ������������������������ �������������������������������� ��������������������� ������������� ������������ ���������������� ������������������ �������������������� ����������������������