Montclair residents are buzzing about the revals coming in. We’re hearing the topic du jour discussed at the grocery store, during dinner parties, and on the street. Appraisal System’s Rick Del Guercio says there are another three batches being mailed over the next three weeks. (It’s how they manage the deluge of post traumatic shock phone calls coming in.)
DelGuercio says assessments are set at 100% of fair market value on October 1, 2006. But what about the tax rate? We called the town tax assessor’s office and learned that residents get another nail biting six months to contemplate planning an exit strategy. The new tax rate will be determined sometime in July.
Baristareader/home contractor Martin Schwarz shares a guestimate:
To estimate your new yearly taxes, take the new assessment received from Appraisal Systems and multiply it by .0210 — and you should be pretty close.
The last tax appraisals were done at 45% of the real assessed value. This time appraisals reflect 100% of assessed value, and thus, the tax rate per dollar will go down from $5.36 to around $2.07 – $2.10 depending on the 2007 budget. How much it decreases totally depends on the Montclair 2007 budget voted on in the spring/summer.
I did a good bit of checking with the assessor and the county so I wouldn√¢‚Ç¨‚Ñ¢t get burned. They won√¢‚Ç¨‚Ñ¢t say anything publicly now because they don√¢‚Ç¨‚Ñ¢t know what the coming township budget will be, but both are giving an estimate the $2.07-2.10 figure as a new rate for 2007. Could they be off? Sure, if the township council goes wild. But if the council keeps the budget close to what we have today, (they should coming into an election year) that number should be in the ballpark.
Want to take a look at your reval file? Call Appraisal Systems 201-493-7300 to schedule an appointment. They’ll be meeting with residents at the Montclair Library through January.