Maplewood and South Orange Revaluation

Maplewood and South Orange had a bid out for a revaluation that will take effect in the 2024 tax year.  I think a lot of recently sold properties are in for a big shock after this one.

"The Township of South Orange Village in conjunction with the Township of Maplewood is requesting proposals from qualified individuals and firms to provide Professional Services, for the Reassessment of all real property in the Township of South Orange Village and the Township of Maplewood for the tax year 2024. These proposals are being solicited and will be awarded pursuant to a “fair and open process” as provided for in N.J.S.A. 19:44A-20.7. Notwithstanding the foregoing, the successful proposer will be required to execute the certification provided for in N.J.S.A. 19:44A-20.8 regarding political contributions. More specifically, proposals made by or on behalf of parties who have made political contributions set forth in N.J.S.A. 19:44A-20.5 shall be rejected. A copy of the RFP may be obtained on the Village website, www.southorange.org."


I'm so glad that they are committed to doing these on a somewhat regular schedule now.  


yahooyahoo said:

Maplewood and South Orange had a bid out for a revaluation that will take effect in the 2024 tax year.  I think a lot of recently sold properties are in for a big shock after this one.

Do you have a sense of the relative increases in selling prices, among the various neighborhoods in the two towns? That's what will affect whether any area has "a big shock".


Well, f**k. If you need me I'll be on zillow.com for the next 2 years.


ridski said:

Well, f**k. If you need me I'll be on zillow.com for the next 2 years.

Why?  Do you think that you are under valued?


DanDietrich said:

ridski said:

Well, f**k. If you need me I'll be on zillow.com for the next 2 years.

Why?  Do you think that you are under valued?

He's talking just about your house.


DanDietrich said:

ridski said:

Well, f**k. If you need me I'll be on zillow.com for the next 2 years.

Why?  Do you think that you are under valued?

Definitely. And if I don't get a pay raise commensurate with my value soon, I'll be f**ked when my house taxes go up.


ridski said:

Definitely. And if I don't get a pay raise commensurate with my value soon, I'll be f**ked when my house taxes go up.

Undervalued generally or undervalued relative to everyone else?  If your undervaluation ratio is similar to the town as a whole, your taxes shouldn't go up. 

Of course, it looks like the real estate market is going to be changing pretty soon given economic conditions, so who knows what it will look like in a year.



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