A timeline for completing property reassessments in Toms River in the wake of Hurricane Sandy has not yet be established, according to a statement released by the township.
A complete reassessment of all properties for the 2013 tax year was underway before Sandy battered portions of the township and any adjustments to structures damaged by the storm will be reflected next year, the statement reads.
Though the assessments typically are completed by Jan. 10 of that tax year, "due to the number of structures impacted by the storm, the Township is currently conferring with the State Division of Taxation to extend the tax list completion deadline so we can adequately address assessment reviews," the statement reads.
The results of the 2013 assessment will be mailed to "all" property owners, according to the township, and is anticipated to be completed in March though that timeframe is dependent upon extension approvals granted by the state and county.
Property owners with damaged structures on their land are required by New Jersey law to submit a written request for an assessment adjustment. A form, available online, should be submitted along with documentation and photographs of the damage before Jan. 10, 2013 to:
Toms River Township Tax Assessor
33 Washington St.
Toms River, NJ 08753
Written claims made that have already been made without using the form are acceptable and the assessors office will make written notifications if more information is required, according to the township.
I think an argument could be made that the impact of Sandy seriously depleted the home value all through the Barrier Island. Ask yourself what would your home be apprised for at this time and down the road? In my opinion it’s going to be at least approximately 5 years before you see the real estate value come back to what it was; and that’s if no other major storm hits again.
I agree taxes never go away "Death and Taxes" and everyone will eventualy have to pay; but the whole area is now de-valued. I would think that you could ask for a tax reduction just due to the fact that it is not as desirable as it once was to live there; therefore the value my home for example is no longer worth the $1m but now maybe $500k and we all know how inlfated realestate prices on the barrier island are, it's not the house that's the value, it's the Location, Location, Location! Which is now disaster, disaster, disaster!!
Very good post.
LET ME EXPLAIN IT TO YOU AS SIMPLY AS POSSIBLE. IT IS BROKEN, IT IS WORTH LESS. THE TAX MAN WILL TELL YOU HOW LESS. AS SOON AS YOU FIX IT IT'S VALUE IS RESTORED. THEN THE TAX MAN WILL REASSESS YOU TO REFLECT FIXED. MY 6 YEAR OLD UNDERSTOOD ME.
Because the barrier island was horribly under assessed. The mainland was horribly over assessed. So when they adjusted the problem most of the mainland saw a small decrease. Damn skippy it was OK, why should I pay the share of a waterfront that was under-assessed?