Tax rate with reassessment equals 13.8 percent tax hike

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To the editor:
You read politician speak; now read taxpayer speak.

Everyone, take your 2012 tax assessment and divide by .5758 to get the full 2012 tax value. Multiply that answer by 2.771. Now compare that answer with the amount you paid in 2012 to find the tax increase based upon the old assessment and you will see that the taxes are being raised by 13.8 percent. This is before the new assessment.

Speaking of the farce called reassessment, the old average was $137,286; mine was $129,000. The new average is supposedly $208,002, but mine is now $223,500. How did I go from $8,000 less than average to $15,000 more than average when all the homes in my development have decreased in value?

Fact: A house purchased in 2007 for $318,000 and sold in 2013 for $229,000 was assessed at $276,000.
Fact: A house sold in May 2012 for $220,000 was assessed at $237,000.

Fact: A new house sold in Sept 2012 for $255,000 was assessed at $276,000. How did the house value increase 9 percent in two weeks?
I am not aware of any homes that sold in the last five years for more than the original price.

Yes, we challenged the assessment company and they decreased the land value by $4,000 to $7,000. This was probably because our community was assessed $15,000 to $30,000 more for the same size land as another senior development in the township.

Yes, we are appealing the new assessments and will continue until justice is done.
I would like someone to explain why there is a 13.8 percent tax increase and whether the community will vote on the budgets since they total greater than the 2 percent ceiling allowed by law.

Arthur Richman
Egg Harbor Township

 

 

 


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