The Villadom Times Weekly Newspaper Online

March 3, 2010 THE VILLADOM TIMES IV • Page 5 Mahwah Revaluation inspections continue in township by Frank J. McMahon Tax assessment inspections of all real property in the Township of Mahwah are continuing, and property owners are receiving letters from Tax Assessor Stuart Stolarz and Ernest F. Del Guercio of Appraisal Systems, Inc., the company the township hired to conduct the revaluation. The letters remind residents of the revaluation as inspectors prepare to visit properties in various neighborhoods. The Bergen County Board of Taxation first ordered the revaluation in 2006 for the 2008 tax year, but the township successfully appealed that order and had the revaluation delayed from the 2008 to the 2009 tax year. In May 2007, the county tax board approved Mahwah’s second request to delay the revaluation from the 2009 tax year to the 2010 tax year, and the tax board then approved the township’s request for a third one-year extension to conduct the revaluation during 2009 and 2010 for the 2011 tax year. The extensions were granted in order to ensure a more thorough examination of all current market factors that affect value in light of the volatility of the housing market. Mayor Richard Martel said he is thinking of asking for another delay to the 2012 tax year because the valuations may be lower now because of the depressed housing market and that could lead to lower revenue for the township. On the other hand, he said if the assessments done now are used and the property values continue to decrease, that could lead to more tax appeals. “We want as accurate an assessment as we can get,” Martel explained, “but, based on the economy, it’s just not a good idea to be doing it now.” Meanwhile, Stolarz and Del Guercio said the first step of the revaluation process is the inspection of all properties in the township. Inspectors from Appraisal Systems are visiting all properties in the township and will measure and photograph the exterior of all buildings while just inspecting the interior. According to Stolarz and Del Guercio, the first visit from an inspector will be between the hours of 9:30 a.m. and 5 p.m. If the homeowner/occupant is not present at the first visit, the inspector will leave a card specifying a return date to do the interior inspection. The card will also have a telephone number for the owner/occupant to call to schedule an appointment if the time or date is not convenient. They emphasized that all Appraisal Systems representatives will be provided with township authorized photo identifications, and no one should be allowed to enter a home without proper identification. Owners of rental properties should notify all tenants of rental units that an interior inspection will be forthcoming by the firm, and the owner/occupants will be requested to sign the field form verifying that the inspector made an interior inspection. Several methods are used to establish property values according to its zone and use, including comparable home sales in a neighborhood, current value trends, and the measurement and inspection of each property inside and out. After the appraisals have been completed, all owners will be notified of the valuation placed on their properties and procedures to review the assessment with a representative of Appraisal Systems. A property’s tax rate usually decreases proportionately to any increase in the overall assessed valuation of the municipality, and the impact of the revaluation on individual property owners varies depending on whether their property values have risen more than the municipality’s average. Therefore, some property owners may see a tax increase as a result of a revaluation, and others may not. A revaluation is generally ordered when the ratio of the assessed value of a municipality’s properties to their real market value falls below 85 percent, or when it has been 10 years since the last revaluation. Stolarz advised that the current ratio of the assessed value of the properties in the township is at 61 percent. The last revaluation in the township was conducted 2001 for the 2002 tax year. 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