River Edge Reassessments Paying Off, Assessor Says
Borough tax assessor Jim Anzevino reported that on average the town assessment is on the mark when it comes to housing sales with 10% of 2012 sales going for above the newly listed assessment
While the 2012 River Edge reassessment had upset taxpayers, developers and realtors last spring, the borough is now seeing a 90-percent sale ratio with homes going at the assessed price or higher according to tax assessor Jim Anzevino. Anzevino appeared before the Mayor and Council on Tuesday night to review the 2012 reassessments impact on last year's 90 house sales. The 90 sales did not include any foreclosure or bankruptcy sales or homes that were sold to a private family member. "On the total aggregate our ratio of sales is 90-percent with a standard deviation of 9.5-percent," Anzevino said. "On average about 10-percent of the sales were higher than the assessed value. This is like an A-." The standard deviation represents the …
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RiverEdgeFirst
10:21 am on Monday, February 25, 2013
GGT, maybe we need an ordinance that requires empty lots/property that had been developed, to be redeveloped within a few years. more ›