Tax Revaluation Questions To Be Answered By Morristown Officials

MORRISTOWN, NJ — Local properties will be revalued for the first time in nearly two decades beginning next month, though town officials have stressed that the process will not automatically result in a tax increase.

To begin the process, town officials will hold a second informational meeting, at which residents are encouraged to bring any questions they have about the process.

The virtual presentation is scheduled for 7 p.m. on Sept. 15 and will detail the information provided during the initial in-person presentation on July 27.

According to town officials, the informational meeting will be held via Zoom and will provide the community with another opportunity to ask and share questions about the tax revaluation process.

The upcoming revaluation, mandated by the Morris County Tax Board, will determine who's homes have increased in value and, as a result, who will be paying more property taxes to the state and county in 2023.

The revaluation would be the first in the 20,000-person community since 2004 and is following years of major redevelopment projects throughout the town.

The town announced on its website that the revaluation, which is being carried out by Appraisal Systems, will begin with fieldwork for commercial properties during the first week of August. Residential home assessments are expected to last from the end of September to the end of December.

Any change in taxes on an individual property will be determined by its value in relation to the town's total tax base, according to the town's statement. If a residential valuation increases by a smaller percentage than Morristown's total value, the property owner's tax rate will actually decrease, according to the town.

Residents will be notified of their results after the revaluation is completed and will be able to meet with a representative in person or virtually to discuss them.

According to officials, residents will also be able to file a revaluation challenge if they believe their rates were exaggerated.

Morristown will provide additional information about the revaluation process, including answers to any and all questions, during the upcoming virtual information session.