Oradell is one step closer after Tuesday's Council meeting to approve Appraisal Systems of Glen Rock to perform a reassessment this summer and fall. The governing body approved an ordinance to fund the $75,000 price tag. A final resolution authorizing the reassessment will be approved in July.
Oradell had a full revaluation performed in 2008 by Appraisal Systems and due to the contract at that time, the borough was entitled to a reduced price for the assessment.
Beginning in July and August, Appraisal Systems will start to deliniate the various neighborhoods and visit any homes. The entire reassessment is expected to be completed by January.
Neighboring municipalities such as Cresskill, Dumont and River Edge all recently completed their reassessments. Dumont which has a much larger uniformity of houses from one end of town to another saw less of a shift between them; Cresskill on the other hand saw a greater degree of change due to the difference in property types from upper high end houses to entry level options and everything in between; and River Edge fell in the middle of Dumont and Cresskill's results. River Edge had both residents, realtors and developers upset as newer construction or upgraded homes have watched their property taxes skyrocket in excess of $17,000 to $20,000 following their reassessment.