Dear Residents,
I want to share some news about the citywide property revaluation process that is currently about 85% complete. At the very start of this process, we committed to handling this situation carefully, ensuring that we minimize disruption to residents and continue to provide information in a manner that has been far more transparent than any other municipality that has undergone this process. We have successfully provided information as it was received so that residents could accurately see where and what has been done.
Today, we are providing the preliminary estimates to give residents a baseline about where we are headed. These estimates are organized by neighborhood and provided as an average, however, individual assessments will likely differ.
While some residents have expressed fears of neighborhoods that would double or triple in taxes, the initial results I am sharing don’t necessarily point to this. As a city, we have experienced some trends that have been crucial in mitigating high increases, including an increase in the ratable base during the past four years, wider breath of property appreciation citywide, and an increase in the commercial base since 2013.
I also wanted to share with residents what the next steps to this process are. Later in the year, residents will begin to get information on their individual assessments by mail and will have the opportunity to schedule one-on-one meetings with the reval company to discuss in more detail.
While I believe that New Jersey’s laws surrounding revaluations are antiquated and require significant updating, I believe that these results speak to the fact that delaying the misguided initial reval from 2013 was the right decision for our residents.
Please see the four links below for more information.
Sincerely,
Mayor Steven M. Fulop
Jersey City Proposed Neighborhood Map
1-4 Family Neighborhood Analysis
Condo Neighborhood Analysis
Assessed Values Comparison