The revaluation of all real estate property in Tenafly is in its final stages, with notices of new valuations to be distributed in December, according to Borough Assessor Carol C. Byrne.
The revaluation’s purpose is to meet the requirement under New Jersey law that all real estate be assessed at its current value, that is at the price at which a property would sell on the open market between a willing buyer and willing seller. New valuations will be in effect for the 2011 tax year.
The Borough was ordered to conduct the revaluation program by the Bergen County Board of Taxation.
Since May, Realty Appraisal Company of West New York, New Jersey, has been reviewing and inspecting dwellings, as well as commercial and office buildings, throughout the Borough. As of this date, most dwellings have been visited and the inspection process will be completed in the next few weeks.
At present, project supervisors Steven and Neil Rubenstein, in consultation with Mrs. Byrne, are analyzing recent sales and listings in order to arrive at market value estimates for all Borough properties.
Once property owners receive their new valuations they will be given the opportunity to request an informal review with Realty Appraisal representatives. As always, property owners are welcome to contact the Assessor’s office with any questions or concerns at 201-568-6100.
Tami Rapaport, a Coldwell Banker Broker/Sales Associate, with 25 years of experience, is one of Bergen County’s most respected top producers. In 2009, Tami ranked #2 out of 3,900 Coldwell Banker agents in the entire State of New Jersey and has achieved Platinum Level Sales Awards from 2002 through 2009.
- An error has occurred; the feed is probably down. Try again later.
Search listings and more…..