Reval Shows Commercial Properties Increased Their Share

Although some Maplewood residential property owners will see their individual share of taxes decrease and others will see their share increase as a result of the 2010 revaluation, the average residential property tax in Maplewood is going down $340.15 or 2.62%, according to a calculation by Appraisal Systems Inc.

If revals are a zero-sum game, how is this possible?

It's because the value of commercial properties increased more than those of residential properties, shifting the burden ever so slightly.

Although the number of residential vs. commercial properties in Maplewood barely changed—from 6,880 to 6,878 residential properties from 2001 to 2010, and 351 to 353 total commercial properties in the same time period—commercial properties now comprise 12.681% of the tax burden, up from 10.030% in 2000.

Meanwhile, residential properties' share dropped from 89.695% in 2000 to 87.022% in 2010.

Some more "good" news: Maplewood's share of county taxes should decrease as a result of the reval.

The county tax board establishes an "equalization ratio" that is used to calculate the total value of each town's assessments. The equalized value is used to apportion the taxes in shared situations such as the county and the school district. The county factor being used for Maplewood was .52, putting Maplewood's estimate value at about $4 billion for 2010. However, Appraisal Systems revaluation puts the value at about $3.5 billion.

With the reval adjusting the total assessed value of town downward—while other Essex towns remain static—Maplewood's share of county taxes should decrease.

This could also have a beneficial impact on the town's share of the South Orange-Maplewood School District tax levy. However, that impact won't be known until the ratio is calculated after the 2011-2012 school district budget process. The Board of School Estimate is scheduled to approve the levy for the 2011-2012 budget on March 31, 2011—however, no budget has been introduced as yet.