By John Burton
FAIR HAVEN — Local officials have decided to challenge a state order requiring reassessment of borough property.
Borough Administrator Theresa Casagrande announced at Tuesday’s Borough Council meeting that the governing body had moved forward to appeal the directive ordering the municipality to conduct a total revaluation of all real property in the municipality.
According to Casagrande, the appeal had been filed earlier on Tuesday with the state’s Tax Court,
Traditionally state tax officials order a revaluation when it becomes apparent that the assessed property significantly out of line with what the properties are getting when they’re sold. Though there are other reasons that can cause officials to seek it, Casagrande said. And currently the assessed value of borough property stands at approximately 76.8 percent of the market rate.
For Mayor Michael Halfacre the reason for opposing the state’s action is because, “Where not convinced it’s necessary. We’re not convinced our property values warrant it.”
The last complete revaluation done here was completed back in 2003. Which, Halfacre pointed out, was before the property value bubble was at its largest, with property values having decreased as that bubble burst in 2008 and haven’t recovered.
The cost of conducting the revaluation of all borough property could run the borough between $140,000–$160,000, according to Casagrande and Halfacre, with the borough being able to spread that cost over a five-year period.
The borough has not seen a substantial number of tax appeals, either. “I don’t think we’ve had more than the average,” with the borough winning a fair amount of them, Halfacre explained.
