Revaluation

January 2024 Update

A letter was mailed out in late January from the Borough's appraisal company, Professional Property Appraisers Inc. to inform all property owners that they have completed the total revaluation in the Borough and the numbers were approved by the appropriate state and county agencies and boards. The revaluation will take effect this year when the 2024-2025 Tax Bill comes out.

Each letter indicates your property's assessed value and your estimated annual taxes. Note that the estimated annual taxes were calculated using the Borough's 2023 budget and does not include any budgetary adjustments in 2024 that are yet to be determined. They also do not include any property tax deductions you may be receiving, such as an abatement, senior citizen discount, veterans discount, and/or disabled discount - those items will continue to show on your tax bill.

If you have any questions regarding the revaluation or want to discuss your assessment, please DO NOT call the Borough and instead directly call Professional Property Appraisers Inc. at 1-800-410-5815 between 9am and 4pm, Monday through Friday.

Informal hearings are scheduled for Friday, February 9 & Monday, February 12 between 12:30pm and 7:00pm at 19 Harrison Avenue as several spaces will be set up for residents to ask questions of representatives from Professional Property Appraisers. The names and IDs of those representatives are included as attachments below. If you wish to speak to a representative in-person, please call Professional Property Appraisers Inc. at 1-800-410-5815 between 9am and 4pm, Monday through Friday so an appointment can be set up. Property owners can bring any relevant information that they feel is necessary to discuss that may affect a change in their assessed value. It is common for homeowners to bring in comparable sales that would support a change in their assessed values.

What is a revaluation?

A Revaluation is a program undertaken by a Municipality to appraise all real property at its fair market value. The goal of a Revaluation is to spread the tax burden equitably throughout a Municipality. Fair market value is the price at which the Municipal Assessor believes a property would sell for at a fair and bona fide sale by a private contract on October 1 of the pretax year.

Why is a revaluation necessary?

A revaluation program seeks to spread the tax burden equitably within a municipality. Real property must be assessed at the same standard of value to ensure that every property owner is paying his or her fair share of the property tax. For example, two properties having essentially the same market value should be paying essentially the same amount in property taxes. Inequitable assessments result from the following situations:

• changes is characteristics in areas or neighborhoods within the municipality and within individual properties
• fluctuations in the economy (inflation, recession)
• changes in style and custom (desirability of architecture, size of house)
• changes in zoning which can either enhance or adversely effect value
• delays in processing building permits which delay tax assessments on new construction

Why is a revaluation occurring now?

A Revaluation is warranted when properties in a taxing district are being assessed substantially below or above true market value. The average property in the Borough of Roseland is currently assessed at 88.46% of market value for 2023. The last Revaluation in the Borough of Roseland occurred in 2009.

Who will conduct the revaluation?

The Borough of Roseland has entered into an agreement with Professional Property Appraisers Incorporated to perform the borough wide Revaluation. 

How do I know it is safe to let someone at my door into my home?

Each data collector will have a photo identification badge visibly displayed. It will show the company’s name, Professional Property Appraisers, as well as the individual’s name. The inspector can provide a letter of introduction on municipal letterhead that contains a telephone number for questions or concerns. Ask to see the credentials of anyone seeking to enter your home and do not admit anyone who cannot produce this identification. The Police Department also has information of each inspector's license plate, so you can always call the Police Department at 973-226-8700 and confirm the license plate of the person at your door matches the information they have.

What occurs during the revaluation?

Interiors and exteriors of each property are physically inspected and building dimensions are noted. The exterior of the property will be photographed. Recent sales will be analyzed to identify markets, submarkets, neighborhood delineation, positive and negative locational obsolescence and land valuation. Commercial property, typically purchased for investment purposes, is studied in terms of its income producing capability or analyzed on a cost basis. Data collectors will record such items as:

• condition
• number of bathrooms
• type of heat
• central air conditioning
• size and percentage of finished attic and/or basement areas
• number of fireplaces

The exterior inspection includes measurements of each structure, such as:

• garages
• in ground pools
• other accessory buildings

Examples of what would not be noted are interior decorations, fences, window air conditioners, gas grills and landscaping, etc.

What do I need to do?

Interior inspections, especially, require that residents cooperate with data collectors. The validity of a market value depends on the collection of accurate data and the valuation method utilized. Any assistance a taxpayer can provide will aid in the total data collection process. If there is information you believe should be considered in the valuation, please inform the data collector. We will make every effort to cause property owners the least possible inconvenience. Remember, the data collectors are not responsible for determining the market value estimate. Their job is to collect pertinent information to determine the property’s value.

What if I'm not home when they come to do the revaluation?

Upon initial visit, a notice will be left with the Inspector’s ID Number. Upon second attempt, a notice will be left asking you to call for an appointment. Appointments can be scheduled on weekdays, evenings as well as Saturdays if need be. If the representative is unable to inspect your home, the interior information will be estimated.

What will happen after the revaluation? What will happen to my taxes after the revaluation?

A notice of the new assessed values for each property will be mailed in the fall of 2023. The impact of the new assessments will not affect the property owner’s tax bill until the 2024 tax year.

Although the Revaluation will result in a change of nearly every individual assessed value, it does not mean individual taxes will increase for all properties. The tax rate will be adjusted in 2024 to compensate for the change in the assessed values. Since not all properties have appreciated in value at the same rate, some tax levies will go up, some will stay neutral and others will go down. 

What if I'm dissatisfied with the proposed assessment?

The notice of your new 2024 assessed value will explain how to arrange for a personal informal meeting with a representative from Professional Property Appraisers to review the proposed assessment. Taxpayers attending the review should be prepared to support any disagreement regarding the appraised value of their property. For example, recent sales of similar or comparable properties or incorrect data about the home (i.e. number of bathrooms). 

If for any reason a taxpayer is not satisfied with his or her assessed value for any given year, the taxpayer has the right to file a formal appeal with the Essex County Board of Taxation on or before April 1 st of that given year (Extended to May 1 st for the first year after the revaluation).

Additional questions can be directed to the Property Appraiser company, Professional Property Appraisers, Inc at 1-866-957-1388 or Tax Assessor Kevin Esposito at taxassessor@roselandnj.org.