Third Revaluation Information Session Is October 22nd

The third – and final – public information session will be held on Thursday, October 22nd at 7 p.m. in Borough Hall.

The session will have Realty Appraisal Company, the firm contracted to conduct the townwide revaluation, provide information on the revaluation as well as field questions from those in attendance.

The first two sessions were held in March of this year. The home inspection phase of the revaluation has been completed and property owners will start to receive notices regarding their new assessment. Residents wishing to discuss their assessments one-on-one with Realty Appraisal Company will have an opportunity to schedule a personal meeting with the firm later at the end of the year. This meeting will not be for that but will allow for general questions from the audience.

One major question that will be touched upon will have to do with the change – if any – in property taxes. Realty Appraisal Company will not have any information on the new tax rate. The firm simply dealt with updating assessed values from the borough’s current 1980s average rate of $65,000 to contemporary numbers. Any increase in assessment does not equate to an increase in property taxes since the tax rate used – which will decrease – will not be the current one. The new tax rate is calculated after the borough completes its 2016 budget which is usually in the late spring.

The meeting will be recorded for subsequent viewings by those who were not able to attend. There will also be a live podcast of the event through WRPK Radio (link).