A timeline for Jersey City’s pending revaluation has been obtained by The Jersey Journal. After the city failed to provide the requested document to the Journal, the paper submitted a public-records request to the state which provided the document. It outlines the steps in the revaluation process along with proposed dates for each step.
The first step in the process is picking a new appraisal company which the city should have completed in July. Following that, the chosen company will begin reassessing properties starting in September. If all goes as planned, notices of new value will go out to homeowners by November 2017 with the new tax rates taking effect January 1st 2018.
The main goal of the revaluation is to assess each property to its current value so that tax rates can be applied consistently. Since Jersey City hasn’t reassessed properties since 1988, many home values have increased (or decreased) resulting in inconsistent tax bills.
Read more about the reval here: The Never-ending Reval Saga: What Does It Mean for Homeowners?